Turlock resident Antonio Honorato Silveira, 50, pleaded guilty on Monday to wire fraud in a scheme that began in 2011, U.S. Attorney for the Eastern District of California Eric Grant announced in a press release.
However, Silveira was unsuccessful at trading stocks and consistently lost money, the U.S. Attorney's Office said, and he also diverted investor funds to pay his own expenses. By 2017, he wrote to three investors stating, "I no longer have any money, it was all lost. Doesn't appear to be any new investors in sight either ... This whole experience has been terrible and I apologize."
During those loss years, Silveira used approximately $3.84 million of investor funds as payments to investors falsely portrayed as investment returns, prosecutors said.
Silveira was scheduled to be sentenced in February 2027 and faces a maximum of 20 years in prison. His actual sentence will take into account federal guidelines and other variables.
Hence then, the article about stanislaus county accountant pleads guilty in 7 million ponzi scheme was published today ( ) and is available on CBS sacramento ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Stanislaus County accountant pleads guilty in $7 million Ponzi scheme )
Also on site :