In a surprising twist of fate, the Las Vegas businessman who was arrested last year under suspicion of an $80 million dollar investment fraud has reached a settlement worth $400,000 with one of his angry investors. Apparently, the man solicited to investors that he was in the process of developing large parcels of land which would turn into big bucks for investors, and he received all kinds of monies that he then never paid back. This rises to the crime of Grand Larceny.
Reports by a New York Grand Larceny Lawyer said that the man had reached a settlement with an angry investor last year that cost him $380,000 and now, suddenly, an unidentified benefactor has agreed to pay in full a new settlement of $400,000 to a different investor who lost their money. No one knows for sure how this businessman knows so many individuals who are willing to bail him out, and some say that the money that he is being ‘gifted’ is really money that he had stashed away in the earlier stages of the land development fraud. These cases are prosecuted by District Attorneys in Nassau and Suffolk Counties.
According to a Criminal Lawyer of NYC, the Las Vegas businessman owns two luxurious and spacious homes in the area, and these homes were worth quite a bit of money. The investigation is continuing into where he managed to get the funds to purchase these high end properties, as well as how he has managed to find benefactors to bail him out almost every step of the way. As for the land development that was supposed to turn into riches for investors, it remains to be seen whether or not that will actually come to pass.
If you have been the victim of fraud or embezzlement, contact a New York Criminal Attorney. Even if you do not know for sure that a crime has taken place, a New York Criminal Attorney will be able to answer your questions and help you determine your next steps. Call today for a consultation.