A case of alleged securities fraud and property damage long under investigation by the Orange County Bureau of Investigations has resulted in two Orange County, California, residents being arrested. One of the defendants, a 51-year-old male, was already jailed on other charges at the time his 58-year-old female co-defendant was taken into custody on March 24, 2017, by officers with the Anaheim Police Department.
Among the charges the male defendant faces include 12 counts of making false or misleading statements to procure property with a value of more than $100,000 and five counts of posing as a securities broker or dealer without necessary licensing or certification. He's also been charged with one count of having devised some type of deceptive scheme to defraud.
As for the latter charge, the circumstances surrounding it are aggravated in that he is thought to have been responsible for property loss in excess of $200,000 or $65,000 in property damage. As charges currently stand, the man is facing up to 24 years in the custody of the state.
The man's co-defendant, for her part, is facing 14 counts of making false statements. It's alleged that her misleading statements were responsible for either the unauthorized sale or purchase of a security with a value of in excess of $100,000. She also faces eight counts of working as an illegitimate securities broker or dealer.
Like her co-defendant, the woman is also accused of having created some type of device to defraud others. Aggravated circumstances related to her case stem from her involvement in a white collar crime involving more than $500,000 passing through her hands. Like the male defendant in this case, she is seen as having been responsible for property loss totaling $200,000 and property damaging of $65,000.
As charges currently stand, the woman is facing as much as 31 years in state prison. Both defendants were scheduled for pre-trail hearings at Santa Ana's Central Justice Center on April 26, 2017.
It's not uncommon that white collar crimes, as seemingly orchestrated and involving as much money as is play in this case, result in a long list of charges. Many of them carry lengthy jail terms. If you have been charged with fraud or property theft, an Orange County, California, criminal defense attorney can provide guidance in your legal case.
Source: oc-breeze.com, "Unlicensed brokers arraigned for defrauding investors in boiler room scheme," Orange County District Attorney's Office, April 11, 2017