Monday, September 17, 2007

Sentencing of Owner of Investment Advisor Firm

According to a press release of the U.S. Attorney's Office for the Central District of California, the sentence issued by a judge in the U.S. District Court for the Central District of California to "the owner and operator of the now -defunct downtown investment advisor firm," was 87 months in prison and $28.8 million in restitution to individual investors and $2.4 million to Wells Fargo Bank.  The defendant had pleaded  "guilty to four counts of bank fraud, 11 counts of mail fraud, two counts of investment advisor fraud and two counts of criminal forfeiture."  The defendant was arrested outside the United States and returned to the U.S. to face these charges.

Press Release -  Download c_capital_yi_sentenced.113.pdf


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