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Wednesday, Apr. 4, 2012 by Laura Peters | 1 comments | Email this story
Brett A. Amendola, 37, of Ashburn plead guilty April 4 for defrauding more than $3.8 millionfrom investors through a Ponzi scheme involving his purported purchase of a golf course inLoudoun County.
The Loudoun County Sheriff’s Office partnered with the FBI in the investigation of an Ashburn man’s defrauding scheme.
Amendola, who was prosecuted by Assistant U.S. Attorney James P. Gillis, plead guilty to wire fraud and faces a maximum penalty of 20 years in prison during his sentencing June 29.
According to authorities, Amendola persuaded various investors to provide him with short-term funding that would be held in escrow to fulfill a requirement by his lender to purchasethe Beacon Hill Golf Course outside of Leesburg. According to documents, Amendolapromised that the money would be returned to the investors with interest within days.
Amendola diverted the investors’ money to his own use which included funding his andfamily members’ trading accounts, making payments to investors in this and other schemesand paying for personal expenses, a release said.
Amendola also posed as the attorney representing the escrow account over the phone and inemail messages, the release s aid. This lead investigators to believe that the funds would be
wired to financial accounts controlled by the escrow attorney, which in turn was Amendola.
The case was investigated by the FBI’s Washington Field Office and Loudoun County Sheriff’s Office.
Comments
Wed, Apr 04 at 02:22 PM by Crooks Are Stupid | Report this comment
If you are going to swindle $3.8/million from people, wouldn’t the best idea toevade jail time is to book a flight to a non-extradition country before thosefolks start asking, “Where’s my Money/Investment”? You might also want torenounce your US Citizenship, get a new identity, and then hide your money ina Swiss bank account.
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