Anita Sgarro, a Marina Del Ray resident, was arrested in connection with a securities fraud scam being run out of the State of Florida. Sgarro has been accused of running a “boiler room” operation designed to swindle investors in a penny stock scheme.
Two Florida men allegedly recruited Sgarro to operate a West Coast office that sold stock in a company called Sanomedics. Investors were told that the company made infrared thermometers for dogs. The operation also sold stocks in another company, Fun Cool Free, by claiming that the company held a large portfolio of smartphone game applications.
The operation hooked more than 770 investors who lost a combined total of more than $23 million between 2009 and 2015. The operation succeeded in part by claiming to have the backing of large, well-known individuals, including John Sculley, the former CEO of Pepsi and Apple. They also claimed to have the financial backing of IVAX Corporation CEO Phillip Frost and Cesar Millan.
Craig Sizer and Miguel Mesa, both from the Miami, FL area, prepared sales scripts for salesmen, who worked in boiler rooms in both Miami and Marina Del Rey. Salesmen in the operation frequently used false names, misled potential investors with false information, told investors that they did not work on commission, and claimed that they were employed directly by Sanomedics.
Securities fraud attorney
If you’re facing a federal fraud prosecution, you need an experienced securities fraud attorney like Robert Helfend. Mr. Helfend has more than 30 years of experience in criminal defense, and takes cases in courtrooms throughout Southern California. He also takes cases in any federal circuit in the United States.
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 securities fraud case.
Photo Credit: KMR Photography, via Flickr.com