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Two men from the area, one from Fort Worth and one from Westlake, were indicted as part of an investment fraud program that allegedly cost more than $ 364 million. dollars, announced Wednesday the US Department of Justice.
Cameron R. Jezierski, 28, of Fort Worth, Jay B. Ledford, 54, of Westlake and Las Vegas, and Kevin B. Merrill, 53, of Maryland, were named in an indictment of lies, the dupe to pay millions of dollars in this Ponzi scheme, "said US prosecutor Robert K. Hur.
"Most of these investors are just learning that they have been victimized," Hur said in a statement from the US Department of Justice. "The effects of this type of fraud can be devastating."
According to the indictment, Merrill, Ledford and Jezierski personally enriched themselves and hid their $ 73 million embezzlement to buy and renovate upscale homes in Texas, Maryland, Nevada and Florida. share in a jet plane, play $ 25 million in casinos and support a lavish lifestyle.
The indictment seeks to confiscate nine properties, 26 luxury cars, a boat, aircraft interests, a life insurance policy, 7 and 9 carat diamond rings and a 23-carat diamond bracelet. carats. according to the release.
Merrill and Ledford have urged investors to join them in buying consumer debt portfolios, which are default consumer debt to banks, credit card issuers, lenders collecting on these debts.
The defendants lied to investors and said they would use investors' money to buy consumer debt portfolios and make money, either by collecting payments from their customers or by selling the portfolios to third parties buyers in a practice called "flipping".
According to a complaint filed by the Securities and Exchange Commission, the victims included small business owners, restaurant owners, building contractors, retirees, doctors, lawyers, accountants, bankers, talent agents, athletes professionals and financial advisors. , Washington, DC, North Virginia, Las Vegas and elsewhere.
The indictment alleges that, in order to induce investors to participate, the defendants lied about who they purchased the debt portfolios and how much they paid for the portfolios, whether they invested their own funds and their track record of success. .
The defendants sometimes did not buy debt portfolios with the investor's money. According to the indictment, the defendants created companies similar to sellers or brokers in consumer debt and opened bank accounts on behalf of these dummy companies to maintain the illusion they created.
In addition, to give credibility to the transactions, the defendants created financial documents that used the names and false signatures of actual vendor employees, created false collection reports and transfer statements, and falsified bank transfers.
The indictment also alleges that the accused lied about the money they paid to the investors and said that the money came from the proceeds of the collection efforts and the debt portfolios, when in fact the money was provided by other investors.
If found guilty, Merrill, Ledford and Jezierski each incur a maximum jail term of 20 years for the electronic fraud conspiracy and for each of the five counts of electronic fraud. Merrill and Ledford also face 20 years in prison for two more counts of fraud, as well as 20 years in prison for a money laundering scheme and for each of the four counts of money laundering.
Merrill and Ledford are also facing two years in jail for any other term of identity theft.
Anyone who thinks they are a victim is invited to contact the FBI at [email protected], Hur said.
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