| SDNY Charged 2 Men in
Florida With 3 Card Monte Tactics Now Wagner
Gets 72 Months
By Matthew
Russell Lee, Periscope here
SDNY COURTHOUSE,
Jan 11 – Financial fraud is a
growth industry, sometimes
dumped Friday afternoon
without any presentment or
even the case papers being
available in the U.S.
District Court
for the
Southern
District of
the New York
as on June 14,
2019 when two men
were indicted
but not
presented for a
crime likened
to three-card
Monte, their case
number coming
up as
"cannot find
case
19-cr-437."
Now on January 11,
2021, the
sentencing:
"DAVID WAGNER
was sentenced
in Manhattan
federal court
to 72 months
in prison for
securities
fraud and wire
fraud in
connection
with his
operation of a
number of
corporate
entities
(collectively
referred to as
“Downing”) as
a Ponzi-like
scheme.
WAGNER
solicited
almost $10
million from
approximately
40 Downing
investors
through
materially
false and
misleading
statements and
misappropriated
a significant
portion of
those funds,
using them
for, among
other things,
the payment of
management
fees, the
repayment of
prior
investors, and
personal
expenses.
WAGNER
previously
pled guilty to
these charges,
and was
sentenced
today before
U.S. District
Judge Alvin K.
Hellerstein."
***
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