Denver Co, a former CEO of Outdoor Capital Partners, a fund focused on investing in cycling companies, was sentenced to 71 months in prison for securities fraud on Tuesday. Samuel J. Mancini fraudulently raised nearly $11 million from investors with promises to acquire leading Italian cycling brands, including Cinelli, Columbus, De Rosa, De Marchi Apparel, and Limar Helmets. However, none of the acquisitions materialized, leaving investors without returns on their investments.
Mahwah NJ, A former co-founder and top executive of an investment fund pleaded guilty today for conspiring to defraud dozens of victim investors out of $294 million in funds, U.S. Attorney Philip R. Sellinger announced.
Mahwah NJ, a Chinese businessman Ho Wan Kwok stands accused of leading a conspiracy to defraud thousands of online followers and misappropriate the fraudulently obtained funds to buy himself, and his close relatives, a 50,000-square-foot Mahwah mansion, among other things, federal authorities said.
Paulsboro NJ, a former North Carolina resident appeared in court after he was arrested and returned to the United States from Phuket, Thailand, for his role in a large-scale market manipulation scheme related to two publicly traded companies, U.S. Attorney Philip R. Sellinger announced .
Red Bank NJ, a Monmouth County, man was sentenced to 63 months in prison for committing securities fraud to obtain over $2.8 million from victim investors, U.S. Attorney Philip R. Sellinger announced today.
Hoboken NJ, The president and a top officer of a real estate investment company were charged for their roles in a scheme to defraud more than 2,000 investors in a $650 million Ponzi scheme, and with conspiring to evade $26 million in tax liabilities, U.S. Attorney Philip R. Sellinger announced today.
A former chief financial officer of a New Jersey biotechnology company has been indicted for insider trading after allegedly giving his girlfriend nonpublic information about clinical trial results for a new breast cancer drug.
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Newark NJ, the former chief financial officer for a biopharmaceutical company was indicted today for his role in an insider trading scheme, U.S. Attorney Philip R. Sellinger announced.
Tenafly NJ, an indictment was unsealed today charging Sung Kook (Bill) Hwang, the founder and head of a private investment firm known as Archegos, and Patrick Halligan, Archegos’s Chief Financial Officer, with racketeering conspiracy, securities fraud, and wire fraud offenses in connection with interrelated schemes to unlawfully manipulate the prices of publicly traded securities in Archegos’s portfolio and to defraud many leading global investment banks and brokerages. Deputy Attorney General Lisa O. Monaco, U.S. Attorney Damian Williams for the Southern District of New York and Assistant Director-in-Charge Michael J. Driscoll of the FBI’s New York Field Office made the announcement. Both defendants were arrested earlier today and will be presented this afternoon before U.S. Magistrate Judge Jennifer E. Willis. The case has been assigned to U.S. District Judge Andrew L. Carter, Jr.
Trenton NJ, a New York man today admitted perpetrating a scheme to defraud more than 70 investors through a long-running securities offering fraud that raised more than $4 million and caused investor losses of more than $3.5 million, Acting U.S. Attorney Rachael A. Honig announced.
Newark NJ. an investment fund manager today admitted orchestrating a $100 million securities fraud scheme, Acting U.S. Attorney Rachael A. Honig announced.
Hillsdale NJ, A New York Life insurance broker was sentenced today to 27 months in prison for his role in a scheme to fraudulently use his association with the company to solicit investor money, Acting U.S. Attorney Rachael A. Honig announced.
Ivan Ramos, 39, of Hillside, New Jersey, previously pleaded guilty by videoconference before U.S. District Court Judge Claire C. Cecchi to an information charging him with one count of securities fraud. Judge Cecchi imposed the sentence by videoconference.
Washington DC, a Swedish man was sentenced today to 15 years in prison for securities fraud, wire fraud and money laundering charges that defrauded thousands of victims of more than $16 million.
Roger Nils-Jonas Karlsson, 47, pleaded guilty on March 4. According to court documents, Karlsson ran an investment fraud scheme from 2011 until his arrest in Thailand in June 2019. Karlsson induced victims to purchase shares in the scheme called “Eastern Metal Securities” using cryptocurrency such as Bitcoin and other online payment platforms. Karlsson promised victims astronomical returns tied to the price of gold. Instead, the funds provided by victims were transferred to Karlsson’s personal bank accounts, and he then used proceeds to purchase expensive homes, a racehorse and a resort in Thailand. Karlsson’s fraud targeted financially insecure investors, causing severe financial hardship for many of them. Meanwhile, Karlsson went to great lengths to prolong his scheme, including rebranding, offering updates and account statements that provided assurances to the victims of the states of their assets, and offering explanations for the payout delays – including falsely claiming to be working with the Securities and Exchange Commission (SEC). Not to lose your money, you should be patient as well as wisely approach trading. We recommend scalping signals crypto that indicate the best time and settings for trading. Being aware of advanced tools you won’t lose your money or give it to fraudsters.
Linwood NJ, an Atlantic County, New Jersey, man has been charged with orchestrating a long-running securities offering fraud while simultaneously embezzling hundreds of thousands of dollars from his employer’s bank account, Acting U.S. Attorney Rachael A. Honig announced.
Teaneck NJ, a Bergen County, New Jersey, man today admitted orchestrating a long-running bank and securities fraud scheme, which led to large-scale losses for financial institutions and investors, Acting U.S. Attorney Rachael A. Honig announced.
Montclair NJ, The owner and manager of a New Jersey hedge fund was sentenced today to 72 months in prison for defrauding two investors of $4 million, U.S. Attorney Craig Carpenito announced.
Nicholas Lattanzio, 62, of Montclair, New Jersey, was previously convicted on all counts of an indictment charging him with two counts of wire fraud and two counts of securities fraud following a three-week trial before U.S. District Judge Kevin McNulty, who imposed the sentence today in Newark federal court.
According to documents filed in this case and the evidence at trial:
From June 2013 through November 2014, Lattanzio orchestrated a large-scale scheme through which he, his hedge fund, the Black Diamond Capital Appreciation Fund L.P. (BD Fund), and several other related entities collected millions of dollars in upfront fees from two unsuspecting corporate investors in exchange for the promise of future loans or investment opportunities that did not materialize. Instead of investing the victims’ money as promised, Lattanzio stole the majority of the funds and used them to pay himself more than $500,000 in salary. He used the money for numerous personal expenses, including the purchase of a $1 million home in Montclair, New Jersey, a new Range Rover, a $10,000 diamond ring, and the payment of $500,000 in credit card debt that he incurred for other personal expenses. Lattanzio lied to the victims about the status of their funds to conceal the scheme and mislead them into believing that their investments were safe.
In addition to the prison term, Judge McNulty sentenced Lattanzio to three years of supervised release and ordered him to pay restitution of $3.93 million.
U.S. Attorney Carpenito credited special agents of the FBI, under the direction of Special Agent in Charge Gregory W. Ehrie in Newark, for the investigation leading to today’s sentencing. He also thanked the U.S. Securities and Exchange Commission’s New York Regional Office, under the direction of Marc P. Berger, and the N.J. Bureau of Securities, within the State Attorney General’s Division of Consumer Affairs, under the direction of Attorney General Gurbir S. Grewal.
The government is represented by Assistant U.S. Attorneys Nicholas P. Grippo and Daniel V. Shapiro of the Economic Crimes Unit, and Assistant U.S. Attorney Peter Gaeta of the Office’s Asset Recovery and Money Laundering Unit.
