In the wake of an FBI operation seeking to expose Southern California con artists running Ponzi schemes, a federal grand jury has indicted a Los Angeles man who falsely guaranteed investment returns of as much as 15 percent with little or no risk.
According to the four-count indictment, Brian Charles Solomon--who claimed he was the managing director of Alpha Omega Funds LLC and senior managing partner of SolomonKeegan Group--unwittingly tried to lure wealthy Orange County residents into his hedge fund scam without realizing the individuals were undercover FBI agents.
Solomon used a series of props--including false account activity statements and deceitful boasts about his financial success--to convince investors that he'd safely invested their money when, in fact, he'd converted the funds into personal use to pay tuition at Le Lycee Francais de Los Angeles and his own rent, according to court records.
Solomon has obtained a taxpayer-funded criminal defense lawyer and pleaded not guilty to the charges.
On April 5, U.S. Magistrate Judge Jean P. Rosenbluth granted a Department of Justice request to hold the defendant in custody without bail.
A jury trial has been tentatively scheduled inside Orange County's Ronald Reagan Federal Courthouse in Santa Ana on May 28.
Solomon, who was born in 1973, also has used the names Charles Solomon and Brian Dante Solomon, according to court records.
R. Scott Moxley’s award-winning investigative journalism has touched nerves for two decades. An angry congressman threatened to break Moxley’s knee caps. A dirty sheriff promised his critical reporting was irrelevant and then landed in prison. Corporate crooks won’t take his calls. Murderous gangsters mad-dogged him in court. The U.S. House of Representatives debated his work. Pusillanimous cops have left hostile messages using fake names. Federal prosecutors credited his stories for the arrest of a doctor who sold fake medicine to dying patients. And a frantic state legislator literally caught sleeping with lobbyists sprinted down state capital hallways to evade his questions in Sacramento. Moxley has won Journalist of the Year honors at the Los Angeles Press Club and been named Distinguished Journalist of the Year by the LA Society of Professional Journalists.