Illegal activity by stockbrokers and financial advisors comes in many
different forms. The most common would be “Ponzi Schemes”,
Fraud, and Theft from clients. Ohio prosecutors, including the Ohio Attorney
General, are stepping up efforts to investigate, prosecute, and incarcerate
“financial professionals” who prey on unsuspecting clients.
If you or someone you know may be a target of a criminal investigation
for alleged
investment fraud, theft, money laundering, tampering with records, wire fraud,
forgery, or any other theory of criminal liability, it is highly recommended that
you retain a
criminal defense attorney
immediately.
Recently, an Arizona man admitted guilt in Columbus, Ohio in one of the
largest mortgage-fraud cases in
Franklin County
history. He was sentenced to 9 years in prison.
John J. Wanek, 57, of Phoenix pleaded guilty to 4 counts of money laundering,
2 counts of theft, and 1 count of engaging in a pattern of corrupt activity
and falsification.
Wanek provided false and inflated financial information and occupancy
information to Merrill Lynch Mortgage Lending to obtain a $15.5 million
loan. Other lenders stepped forward for a total of $35 million in fraudently
obtained loans.
The explanation that “it was a real estate boom” and “everyone
was doing it” didn’t fly with Judge Julie Lynch who commented,
“I don’t think nine years is enough . . . it makes me sick, frankly”.
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