According to federal investigators, the defendant worked with major companies and institutional investors. He operated a fund that attracted major companies and states, including North Carolina and Oregon.
Prosecutors claim that the defendant took money from the fund to cover personal expenses and to lavish gifts on his wife and girlfriend. Over a period of seven years, the defendant transferred more than $4 million in investor funds to his personal accounts. Initially, he used the money to cover expenses at the management company. Later he used investor funds to buy expensive jewelry and other gifts, as well as his own personal expenses.
To cover the fraud, he filed false tax returns with the help of a tax preparer. The tax preparer also faces federal charges related to the case.
In 2016, the Securities and Exchange Commission permanently banned the defendant from working legally in the securities industry again. In addition to accepting lifetime disbarment, the defendant agreed to repay investors $4.8 million in restitution and a $1 million fine.
California securities fraud lawyer
When you face securities fraud charges, hire an experienced securities fraud lawyer like Robert Helfend. Mr. Helfend has more than 30 years of experience in courtroom criminal defense. He takes both federal and state criminal cases.
Securities fraud normally grabs headlines because the dollar amounts are often large. Typically, investors’ first concern is the recovery of their stolen funds. An experienced defense attorney can help facilitate the recovery of assets. In addition, a good defense attorney can help direct the court toward a meaningful sentence that doesn’t include lengthy incarceration.
Federal prosecutions are tough because the government typically has a very high conviction rate. For no other reason than that, you need an experienced federal defense attorney by your side during a federal prosecution.
Don’t settle for an inexperienced attorney. Instead, contact Robert Helfend or call toll-free at (800) 834-6434, (805) 273-5611, (310) 456-3317 or (818) 591-2809 for an immediate consultation on your Ventura County securities fraud case.
Photo Credit: Roderick Elme, via Flickr.com