Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

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Saturday, October 20, 2012

Investor Pays Call Girls With Illegally Obtained Funds

MoneyGeoffrey H. Lunn created and operated an investment scheme with two other people: "Darlene Bishop of Odessa, Texas, and Vincent G. Curry of Las Vegas." Together the three operated an investment scheme worth $5.77 million. To make the scheme believable, Lunn created a false subsidiary of a real investment bank, Dresdner Bank. Lunn stated that he operated the company, known as Dresdner Financial, as the vice president and that he planned to acquire and purchase other banks. The three persons claimed that their program could easily turn a profit. In fact, the three claimed that they "could turn an investment of $44,000 into $2 million within 12 banking days." 

Unfortunately for their investors, the company was not real nor was their investment scheme. In fact, Lunn paid three call girls in Las Vegas at grand total of $848,500 using the investors money. Lunn claimed that he acted righteously, and that he gave the money to the call girls "so that they could have 'a better type of life.'" Lunn also used the investor's money to give another deserving person $1.3 million and his cohorts $650,000. The SEC, which has brought a lawsuit against the three, is seeking disgorgement, fines, and injunctions.

See Investors' $850,000 Goes to Call Girls, Courthouse News Service, Oct. 19, 2012.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.

http://lawprofessors.typepad.com/trusts_estates_prof/2012/10/investor-pays-call-girls-with-illegally-obtained-funds.html

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