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Posted On: 09/07/2018 12:40:48 AM
Post# of 65629
New York jury finds three guilty of $60 mln tribal bond fraud
28 June 2018
NEW YORK, June 28 (Reuters) - A jury in Manhattan federal court on Thursday found three people guilty of orchestrating a scheme to defraud a Native American tribe and multiple pension funds through the issue of $60 million worth of tribal bonds, prosecutors said.
John Galanis, 74; Devon Archer, 44 ; and Bevan Cooney, 45, were convicted of conspiracy and securities fraud following a 5-1/2-week trial, according to a statement from the office of Deputy U.S. Attorney Robert Khuzami.
"As a unanimous jury swiftly found, these defendants orchestrated a highly complex scheme to defraud a Native American community and multiple pension funds, all to corruptly bankroll their own personal and business interests," Khuzami said in a statement.
Lawyers for the defendants could not immediately be reached for comment.
https://www.cnbc.com/2018/06/28/reuters-ameri...fraud.html
28 June 2018
NEW YORK, June 28 (Reuters) - A jury in Manhattan federal court on Thursday found three people guilty of orchestrating a scheme to defraud a Native American tribe and multiple pension funds through the issue of $60 million worth of tribal bonds, prosecutors said.
John Galanis, 74; Devon Archer, 44 ; and Bevan Cooney, 45, were convicted of conspiracy and securities fraud following a 5-1/2-week trial, according to a statement from the office of Deputy U.S. Attorney Robert Khuzami.
"As a unanimous jury swiftly found, these defendants orchestrated a highly complex scheme to defraud a Native American community and multiple pension funds, all to corruptly bankroll their own personal and business interests," Khuzami said in a statement.
Lawyers for the defendants could not immediately be reached for comment.
https://www.cnbc.com/2018/06/28/reuters-ameri...fraud.html
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