- 2001
- $165,148.86
Defendant was charged with participation in a widespread fraudulent “prime bank” scheme known as The Gateway Association. Over the course of approximately one year, he allegedly solicited investors to invest in an overseas bank debenture trading program, promising spectacular returns of over 1000%. However, according to the SEC’s complaint, the purported securities did not actually exist, and defendant misappropriated $140,000 from eleven investors.
