Thursday, March 31, 2005
Not everything is happening in AG Spitzer's territory. One can easily find prosecutions and investigations on the West Coast. For example, yesterday after a five hour deliberation, Matthew Hattabaugh was convicted of twelve counts of wire fraud by a federal jury. Mr. Hattabaugh was convicted based upon an indictment that alleged he "schemed to defraud prospective investors by falsely representing that he owned a bank called Pacific American Capital Corporation in Oakland."
According to a press release of the U.S. Attorney's Office in Northern District of California, " Mr. Hattabaugh secured promises to invest over $4.5 million in his fraudulent bank. Only after investors wired over $650,000 to Mr. Hattabaugh's account, did one person detect the fraud and contact the Federal Bureau of Investigation."