Complaint: Three former investment advisers were sentenced on November 19, 2013 for their roles in attempting to defraud a wealthy investor of $1 billion through a high-yield investment fraud scheme. This case is being prosecuted by Senior Litigation Counsel David Bybee and Trial Attorney Fred Medick of the Criminal Divisionu2019s Fraud Section. Acting Assistant Attorney General Mythili Raman of the Criminal Division and U.S. Attorney Andre Birotte, Jr. of the Central District of California made the announcement. William J. Ferry, a former stock broker and investment adviser; Dennis J. Clinton, a former real estate investment manager; and Paul R. Martin, a former senior vice president and managing director of Bankers Trust, were convicted on July 31, 2012, of conspiracy, mail fraud, and wire fraud. The investor they attempted to defraud was, in reality, part of an undercover FBI team that posed as wealthy investors and investment managers to stop fraudsters before they actually harmed victims. Ferry, 71, of Newport Beach, California, was sentenced to serve 15 months in prison. Clinton, 65, of San Diego, California, was sentenced to serve 30 months in prison. Martin, 64, of New Jersey, was sentenced to 30 months in prison. Throughout the scheme, Ferry acted as an underwriter and member of the compliance team; Martin acted as a banking expert; and Clinton acted as a trouble shooter during the compliance phase and transfer of funds to the Swiss banker. www.ripoffscams.com/r/Fred-Medick/Los-Angeles-California/Fred-Medick-Former-Owner-of-Los-Angeles-Medical-Clinic-Management-Company-Indicted-in-13-1112603 This continuing investigation is being conducted by the FBI. This case is being prosecuted by Senior Litigation Counsel David Bybee and Trial Attorney Fred Medick of the Criminal Divisionu2019s Fraud Section.
Tags: Federal Government
Address: Los Angeles, CA USA Los Angeles, California USA