Earlier this year, two Woodland Hills men were convicted in federal court on securities fraud charges for their roles in a decade-long Ponzi scheme that preyed on more than 1,300 victims in and around Ventura County.
Joel Gillis and Edward Wishner persuaded would-be investors to give them money allegedly for the purchase of ATMs, and in return, they would receive $0.50 per transaction – a guaranteed rate of return of 20%. Initially, the scheme returned money at the beginning of each month, but after 10 years, the scheme collapsed, leaving victims with a stunning amount of debt. Federal investigators are seeking reimbursement of more than $4 million from one investor alone. Gillis and Wisner have been sentenced to ten and nine years respectively in federal prison. Meanwhile, many of their investors have lost everything.
Experienced securities fraud attorney
Securities fraud is a complex federal crime, and you need an experienced fraud attorney to help you defend yourself in court. Los Angeles federal criminal defense attorney Robert Helfend is an experienced securities fraud attorney, and he can help you prepare a solid fraud defense.
Mr. Helfend has more than 30 years of experience exclusively in criminal defense and will work diligently to get the charges against you reduced or dropped. Mr. Helfend has established a reputation in Ventura County, Southern California and in federal district courts throughout the country as an aggressive, tireless defense attorney who fights hard for his clients throughout the judicial process.
Federal prosecutions are tough because the federal prosecutors are well funded, well organized and they choose their cases carefully. Private citizens are unlikely to be able to outspend the Justice Department, but that doesn’t mean you can’t mount an effective, successful securities fraud defense.
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: Sigurd Decroos, via FreeImages.com