Randall T. Treadwell, Ricky D. Sluder, Arnulfo M. Acosta, and Larry C. Saturday

Treadwell, Sluder, and Saturday were found guilty of wire fraud and conspiracy while Acosta pleaded guilty prior to the trial to conspiracy and making a false statement to a federal officer. In the indictment they were charged with fraudulently soliciting over $50M from investors, by falsely telling investors that their investments would be used for high yielding investmtnts, while only a fraction of the money was used for investments, rather, the money was used to pay back previous investors and for personal use. The SEC litigation release can be read here.

July 22, 2008 In: People Comments (None)