Utah man charged in Georgia over $30M scheme December 27, 2010
Posted by jefhenninger in News.Tags: securities fraud
trackback
Federal prosecutors in Georgia have charged a Utah man with leading an investment company that allegedly bilked more than 100 people out of more than $30 million. Thomas Repke pleaded not guilty Monday to multiple counts of mail fraud, wire fraud and conspiracy and was soon after released on a $250,000 bond. Prosecutors said he and James Jeffery, promised people who invested in their company, Coadum Capital, with monthly returns of 5 percent (which should have been a huge red flag). But instead of keeping the money in escrow accounts, authorities say the two transferred more than $20 million to accounts in Switzerland and the Mediterranean island of Malta. At this point, most of the money is gone.
Story is here.
Atlantic City Criminal Defense Attorney
Comments»
No comments yet — be the first.