A federal jury convicted a former Beverly Hills stockbroker who stole $200M from investors of
fraud. Following a 17-day trial, a jury convicted the man of 18 counts, including conspiracy to commit wire and securities fraud. They also convicted him of securities fraud and investment advisor fraud, as well as money laundering. The jury also found him guilty of making false statements, obstruction of justice and unlawful money transactions.
The defendant was the president of Hunter World Markets, a Beverly Hills stock brokerage. He co-owned the brokerage with another hedge fund manager, who fled the US after being indicted. Authorities say the pair manipulated penny stocks to inflate their value. They then sold the inflated penny stocks to hedge funds they operated. This enabled the hedge funds to overstate their performance and generate large profits for the hedge fund managers. Using the inflated performance data, they lured unsuspecting investors into the funds.
The Department of Justice is seeking the extradition of other hedge fund managers who participated in the scheme. Italian authorities arrested the co-owner of the firm in 2013 but released him. Following his release, he is thought to have fled to Germany.
Beverly Hills Fraud Lawyer
When you face federal charges for conspiracy, money-laundering or fraudulent activity, hire an experienced fraud lawyer like Robert Helfend. Mr. Helfend has more than 30 years of experience in federal criminal defense. He takes federal cases in any US District Court. He also takes state-level cases in Los Angeles County and throughout Southern California.
Federal prosecutors are aggressive and unrelenting. That’s why you need an experienced defense attorney with you in court. Federal penalties for various frauds are significant, as are the fines. An experienced, aggressive defense attorney can help get charges reduced or dropped. An experienced attorney can also help limit the impact of a conviction on you.
Don’t settle for a lawyer who doesn’t want to represent you, or who would rather make a deal than fight on your behalf. Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273- 5611 for an immediate consultation on your Los Angeles County fraud case.
Photo Credit: walknboston, via Flickr.com