onoeuqedol1902.blogspot.com
David E. Ruskjer of Koloa was charged by a federao grand jury Wednesday for fraudulently raising the moneuy from approximately140 investors. Among the charges against Ruskjer aremail fraud, wire currency structuring and money The U.S. Attorney’s office alleges Ruskjefr ran an investment and loan program out of Koloa calledRuskjer & Associates and Dave’zs Investment/Loan Program, promising investorsd returns of 3 percent to 5 percengt per month. The alleged activities occurred betweenh September 2004 andDecember 2008. Ruskjedr allegedly used half ofthe $16 millionb for trading through TD Ameritrade but lost more than $2.
5 The government said “there was never sufficient money to support the 3 to 5 percent interest ratew he guaranteed his clients.” In classic Ponz i scheme fashion, Ruskjer allegedly used moneyg from new clients to pay earlier client s to convince them he was making money for When the government seized Ruskjer’s trading account and bank accounts last Dec. 11, he had a combinedr balance of $4.1 million.
Ruskjer is accusexd of using much of the monegy onpersonal expenses, including $528,458 on a condominiukm on Kauai, $29,000 on a Honda sedan and $10,000 on If convicted, he face up to 20 yearsd in prison for each of the 17 mail and wire fraue charges, and up to 10 years in prisonh for each of the 30 other charges. The case resulted from an Internall RevenueService investigation.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment