A and O Entities Founder Convicted in $100 Million Fraud Scheme
March 24, 2011
Total Loss:
$100 Million
Christian M. Allmendinger, 39, of Houston, was convicted by a federal jury today for his role in a $100 million fraud scheme with more than 800 victims across the United States and Canada.
The conviction was announced today by U.S. Attorney for the Eastern District of Virginia Neil H. MacBride and Assistant Attorney General Lanny A. Breuer of the Criminal Division.
“Christian Allmendinger stole millions from elderly retirees to buy flashy cars and a multi-million-dollar home,” said U.S. Attorney MacBride. “This was a national fraud case brought by the Virginia Financial and Securities Fraud Task Force that has real implications to dozens of investors in Richmond, who gave most of their life savings and have seen it all disappear. Mr. Allmendinger has now been held accountable for his crimes, and we will continue to pursue other financial fraudsters who prey on those in Virginia and throughout the country.”
Source:
corrections.com
Posted in:
Internal Fraud