Three arrested in $103 million fraud case
Posted on Friday, September 10th, 2010 at 6:23 pm
Three Texas businessmen have been arrested for their alleged involvement in a $100 million fraud case.
The three men allegedly defrauded investors, many elderly people, out of millions of dollars in a fraud case that involved 800 victims in 37 states and Canada. The federal grand jury in Richmond indicted the three men on charges of mail fraud, money laundering, securities fraud and conspiracy.
The three men were principals at A&O Life Funds and other companies and they led people to believe that their investments were risk-free and they also guaranteed double-digit returns. Instead of setting the investors money aside, they used it to buy items for themselves and fund a fancy lifestyle.
If you or a loved one has been the victim of business fraud, you need experienced representation on your side. Contact the Des Moines business fraud and theft lawyers of LaMarca Law Group, P.C. by calling (877) 327-2600 today.