Movie producer and financier David Bergstein was arrested last week in connection with a $26 million investmentfraud. Prosecutors say that Bergstein and Keith Wellner, the former Chief Operating Officer and Chief Counsel of the West Capital Asset Management investment firm, conspired to defraud West’s investors. Bergstein was arrested at his home in Hidden Hills. Wellner was arrested in Manhattan.
According to prosecutors, Bergstein and Wellner withheld information from investors, failed to disclose conflicts of interest and transferred investor funds for their own use, and transferred investor funds to other investors to make it appear as though investments were gaining in value. In addition, the Securities and Exchange Commission filed civil charges against Bergstein, charged him with unlicensed securities dealings.
Bergstein has been involved in financing and financial investing for more than 30 years, and has operated several different film production companies and private equity firms. Bergstein is also a regular contributor to the Huffington Post, and has sponsored several high-profile philanthropic projects. In 2010, more than a dozen investors successfully forced five of Bergstein’s companies into involuntary bankruptcy actions. Bergstein has produced only two films since 2010, preferring to concentrate on his investing businesses.
Hidden Hills Fraud Lawyer
If you’ve been arrested for fraud in Hidden Hills, or anywhere in Southern California, fraud attorney Robert Helfend is ready to take your case. Mr. Helfend has practiced criminal defense exclusively in Los Angeles County and Southern California for more than 30 years.
He has developed a reputation for providing exceptional, aggressive criminal defense for his clients. He is well respected among his criminal defense peers, prosecutors and judges. Don’t rely on an inexperienced criminal defense attorney when your freedom is at stake.
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: Archana Jarajapu, via Flickr.com