US: Business man charged with $96 million fraud
London, Jan. 27, 2018 (AltAfrika)-A federal grand jury in the united States has indicted a Shreveport businessman David D. deBerardinis with five counts of fraud for allegedly scamming more than $96 million from investors and financial institutions.
U.S. Attorney Alexander C. Van Hook announced the indictments Thursday.
DeBerardinis was charged with four counts of wire fraud and one count of attempted bank fraud. He will not be arrested, said Henri LeJeune, spokesman for the U.S. Attorney’s Office. A summons will be issued instead.
The indictment alleges that deBerardinis, 56, falsely represented himself from 2008 to 2016 to obtain more than $96 million from investors in Shreveport, across Louisiana and elsewhere.
In soliciting investor funds, he offered interest payments and a guaranteed return on invested principal, the indictment alleges, and he required investors to sign non-disclosure agreements “to lull investors into conducting minimal due diligence and to control the flow of information.”
According to the indictment, deBerardinis operated numerous business entities and represented himself as part of the petroleum industry involved in the sale, trade and transport of fuel.
DeBerardinis “used computers, cell phones, and other electronic devices and caused others to use computers, cell phones, and other electronic devices in ways that perpetuated the illusion of legitimate business functions and activities involving the purchase, sale and transport of fuel,” the indictment alleges.