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Former Logistics Company CFO Convicted of Securities and Accounting Fraud manufacturing.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manufacturing.net Daily Mail and Mail on Sunday newspapers.
Former Logistics Company CFO Convicted of Securities and Accounting Fraud manufacturing.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manufacturing.net Daily Mail and Mail on Sunday newspapers.
US Department Of Justice: Former Chief Financial Officer Of Publicly Traded Company Convicted Of Securities And Accounting Fraud mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
Details Written by Justice Department Miami, Florida - A Florida man was sentenced yesterday to more than four years in prison for operating an investment scheme in which he used investor funds to repay other investors and misappropriated funds for himself. David C. Coggins, 42, of Miami, pleaded guilty to one count of securities fraud on March 2, 2021. According to court documents, Coggins solicited investors to his investment fund between 2015 and 2020 by touting the fund’s successful performance and total assets under management. Over time, the fund lost money and Coggins used money from new investors to pay other investors. Coggins also misappropriated funds for his personal purposes. To conceal the fund’s actual losses and persuade investors to part with their money, Coggins fabricated reports purportedly showing the fund’s successful performance and created a fraudulent independent auditor’s report. By the end of 2020, the net asset ....
Details Written by Justice Department Miami, Florida - A Florida man was sentenced Wednesday to more than six years in prison for fraudulently obtaining approximately $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a $318,000 Lamborghini luxury car for himself. David T. Hines, 29, of Miami, pleaded guilty to one count of wire fraud on February 10. According to court documents, Hines submitted multiple PPP applications to a PPP-participating lender, claiming to have had dozens of employees and millions of dollars in monthly payroll. In addition to submitting false and fraudulent IRS forms to support the applications, Hines also assisted other individuals in obtaining fraudulent PPP loans. As part of the sentence, the court ordered Hines to forfeit the $3.4 million in fraudulent loan proceeds that law enforcement seized and the 2020 Lamborghini Huracan that Hines purchased for approximately $318, ....