Scammer
Banned
A 58-year-old Belleville, Ont., man is facing charges in an alleged $30-million fraud in the United States.
The FBI in Atlanta says an indictment alleges about 100 investors lost millions with Coadum Capital.
James Jeffery of Belleville and Thomas Repke, 57, of Salt Lake City, Utah, are charged with 22 counts of mail fraud, wire fraud and conspiracy.
U.S. lawyer Sally Quillian Yates says Jeffery and Repke operated Coadum Capital, which offered shares in hedge funds, in 2006 and 2007.
Yates alleges Repke and Jeffery transferred more than $20 million overseas to accounts in Switzerland and Malta. But by the end of 2007 only a fraction of the transferred funds remained deposited in the European accounts, she says.
"This indictment alleges a major international investment fraud scheme that defrauded over 100 victims around the country out of tens of millions of dollars," Yates said.
The FBI in Atlanta says an indictment alleges about 100 investors lost millions with Coadum Capital.
James Jeffery of Belleville and Thomas Repke, 57, of Salt Lake City, Utah, are charged with 22 counts of mail fraud, wire fraud and conspiracy.
U.S. lawyer Sally Quillian Yates says Jeffery and Repke operated Coadum Capital, which offered shares in hedge funds, in 2006 and 2007.
Yates alleges Repke and Jeffery transferred more than $20 million overseas to accounts in Switzerland and Malta. But by the end of 2007 only a fraction of the transferred funds remained deposited in the European accounts, she says.
"This indictment alleges a major international investment fraud scheme that defrauded over 100 victims around the country out of tens of millions of dollars," Yates said.