Matthew Skinner, 45, founded companies called Empire West Equity Inc. and Simple Growth LLC
LOS ANGELES — A Santa Clarita man who invested in real estate and sold “coupon bonds” that promised regular interest payments on top of principal repayment has agreed to plead guilty to a federal criminal charge for defrauding investors out of more than $1.7 million, the Department of Justice announced Tuesday.
Federal prosecutors also filed a plea agreement in which Skinner agreed to plead guilty to the offense and admitted he fraudulently sold securities. After Empire West experienced financial troubles and Skinner was unable to pay his staff and investors, he established Simple Growth in 2018 and falsely told investors who purchased Simple Growth coupon bonds “that their money would be used to purchase real estate that and Empire West would develop and resell at a profit,” according to the plea agreement.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
'Major gas leak' on Santa Monica Boulevard prompts hours-long closure for publicBreaking: A 'major gas leak' has prompted an evacuation near the Third Street Promenade in Santa Monica. The area is expected to be closed for up to five hours.
Les mer »
Santa Rosa Shooting Leaves 1 Victim in Critical ConditionPolice in Santa Rosa are investigating a shooting Monday afternoon that left a male victim in critical condition, according to authorities.
Les mer »
Santa Ana cold case: Texas woman arrested for murder of boyfriend in 1996An Austin, Texas woman was arrested Tuesday on charges of fatally stabbing her boyfriend in Santa Ana 26 years ago.
Les mer »
Santa Clara County Prepares For Influx of Out-of-State Abortion-SeekersSanta Clara County is planning for an expected influx of out-of-state women seeking abortions because of the likelihood of Roe v. Wade being overturned.
Les mer »