William J. Ferry, a former stock broker and investment adviser, was convicted Tuesday for his part in a scam promising investors extremely high yields from a cut of humanitarian funds for relief from disasters such as Hurricane Katrina, which smacked New Orleans seven years ago today. Among those the 70-year-old Newport Beach man made his billion-dollar pitch to were undercover FBI agents.
]
My colleague R. Scott Moxley wrote an excellent, twisty, true-crime cover story on the fraudulent scheme in September 2011:
From February to December 2006, Ferry pitched his “$1 billion” investment trade program to his potential marks. Claiming he was just awaiting any-day-now final clearance from the Federal Reserve Bank–a.k.a. “The Fed”–he laid out the plan.
According to the Department of Justice (DOJ), Ferry told the undercovers that for very little investment risk they would get a cut of funding from a Fed program that solicited project and humanitarian funds for disasters like Hurricane Katrina. They were further told the high yields would come after the Fed-approved and -regulated account divvied up funds equally between the humanitarian effort, project financing and the investors.
Among the false accusations about the totally phony baloney trading program: that once the program cleared compliance it would become registered by the Fed, that program managers had followed strict Fed
guidelines, that a Fed trade administrator administered the
program and that compliance duties were handled by a Fed compliance officer. Ferry acted as an underwriter
and member of the compliance team.
A DOJ statement says that the undercover FBI agents were told they would get to meet a Fed official and/or the chairman of the
board of a major U.S. bank to confirm the existence of the trade program, and that the investors funds would be kept in an offshore bank account managed by a Swiss banker who was already managing billions of
dollars for those who set up the program.
Indeed, to make the scheme seem legit Ferry of course needed help. Former real estate investment manager Dennis J. Clinton, 64, of San Diego, acted as a troubleshooter during the compliance phase and
transfer of funds to the Swiss banker. The role of banking expert was played by Paul R. Martin, 63, a former senior vice president and managing director
of Bankers Trust out of New Jersey. Californian Brad Keith Lee was the contact with the
Swiss banker, Oregonian John Brent Leiske acted as the trader, and Canadian Alex Chelak is charged with
having acted as a compliance officer.
With the evidence of the dupe in hand, all those men were indicted on Aug. 21, 2008, as were Iowa's Richard Arthur Pundt and Florida's Ronald J. Nolte. Charges against Pundt were dismissed in August 2010, and Nolte was acquitted in federal court in Santa Ana on Tuesday.
Not so lucky were Nolte's co-defendants Ferry and Clinton, who were each found guilty by the same federal jury in Santa Ana of one count of conspiracy, two counts of mail
fraud and six counts of wire fraud. They face up to 20
years in the federal pen on each fraud count at their scheduled Feb.
1, 2013, sentencing.
“Mr. Ferry and Mr. Clinton tried to dupe undercover agents into
believing their high-yield investment program would earn them extremely
high rates of return,” says Assistant Attorney General Lanny A. Breuer in the DOJ statement. “In fact,
Ferry and Clinton were conspiring to steal their money, along with the
money of trusting investors.”
At a separate trial, Martin was convicted Feb. 1 on the same counts as Ferry and Clinton. Martin faces the same prison stretch at his looming sentencing. Lee, who had pleaded guilty to wire fraud and conspiracy to
commit mail and wire fraud, was sentenced on Jan. 11, 2010, to 24
months behind bars. Leiske pleaded guilty of all counts against him this past Jan. 24 and he is to be sentenced on Sept. 19.
Chelak remains a fugitive, reports the DOJ.
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OC Weekly Editor-in-Chief Matt Coker has been engaging, enraging and entertaining readers of newspapers, magazines and websites for decades. He spent the first 13 years of his career in journalism at daily newspapers before “graduating” to OC Weekly in 1995 as the alternative newsweekly’s first calendar editor.
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I’m still Christopher Maldonado The biggest cyberattack victim compromised correspondence, all of my entire life personal information multi million dollar business investments and lawsuit claims my family are the plaintiffs all settled and approved but never received due to my identification fbi most wanted affiliated iranian cyberactors I id on us soil impesonat8ng the officials that awe fuck it fuck off 3 ip addresses that keep on defamating my character and but just know that my immense amount hard evidence you’ll never have I sleep eat go doodoo and take with me everywhere I go even though you perps keep tracking my mercedes c300 imp law enforcement officers to well those that allow it and go along with mycryforhelp and those that are the ones that can’t seem to stop following me physically hacking my compromising my usaa bank accts to make fraud bank wire transfers to diana maria flanagans jp morgan chase bank acct perp robert flanagan and his 2 minions sons that also federal indictment fugatives alexchelak dennis cilinr9n William ferry and also their families trying to make it appear that my family is affiliated with you criminals we are lawabidingcitizens nectar bullfrog clinton and also your kids and wifes you all are breaking the law by compromis8ng my families and defanting our characters along with perps from Michigan and I just identified that Noel garibay isn’t a cia operative he’s a damn relegate investment advisor the is affiliated with you perps along with the organized crime I id but won’t state until I have in front of me I mean in front of me not compromised law enforcement officer but my friend Joanne Camacho gabrielke dudgeon and Dylan aquino doj whom I know will be ethical and never mistreat victimize ny family as since reporting being a victim of cybercrime social media id theft fraud emvmbezzelment extortion in cyberspace perps anthony roy 147 fb rodney ladale scott and my ud 3 intern securoties officers aka Russian fsb center16 hackers I have animmense amount of hardevidence that the amateur perp I id roy guitirrez and Jerry ribiello and also the cable tech organized crime perps also my mobile phone not 1 but 2 but 3 but 4 all compromised I have sim cards cell phones stuck in carrier services and all the mother fucking supporting data reportsubmissions cert9fied letters received Michael hestrin da Riverside ca my $85million you perps have in your possession will be mine and you’ll all be where you belong cois byrd detention facility aka southwestern detention facility aka fuck superior court Auld rd murroeta ca 92562 where I have hard evidence tge perps compromis8bv ny defamt8bg ny character and following me physically harassing me in a court room att3fanxe as well as the perp I id affiliated with the perp that said it is her daughter restraining irder wearing kcackisand divkies and checkered button up that was removed from courtroom and sent to 1st floor also I id every damn one of you so obvious I have license plates fuck you hey any one of those opportunist9c women want to help organize what I have already fir my resubmissions that are Goin to be compromised nomo 26267 jasmine avd murroeta ca 92563 858-663-8466 text me the perps keep forwarding my tm9bile calls to to the compromised by isreal ornelas perp my cricket wireless cell phobe as well as cjanig the ip address on all of my cell phones but hey I HAVE HARDEVIDENCE BOXESRECRIPTS NOONWWILLEVERHAVEBUTMEDEADBEATS
I’m still Christopher Maldonado The biggest cyberattack victim compromised correspondence, all of my entire life personal information multi million dollar business investments and lawsuit claims my family are the plaintiffs all settled and approved but never received due to my identification fbi most wanted affiliated iranian cyberactors I id on us soil impesonat8ng the officials that awe fuck it fuck off 3 ip addresses that keep on defamating my character and but just know that my immense amount hard evidence you’ll never have I sleep eat go doodoo and take with me everywhere I go even though you perps keep tracking my mercedes c300 imp law enforcement officers to well those that allow it and go along with mycryforhelp and those that are the ones that can’t seem to stop following me physically hacking my compromising my usaa bank accts to make fraud bank wire transfers to diana maria flanagans jp morgan chase bank acct perp robert flanagan and his 2 minions sons that also federal indictment fugatives alexchelak dennis cilinr9n William ferry and also their families trying to make it appear that my family is affiliated with you criminals we are lawabidingcitizens nectar bullfrog clinton and also your kids and wifes you all are breaking the law by compromis8ng my families and defanting our characters along with perps from Michigan and I just identified that Noel garibay isn’t a cia operative he’s a damn relegate investment advisor the is affiliated with you perps along with the organized crime I id but won’t state until I have in front of me I mean in front of me not compromised law enforcement officer but my friend Joanne Camacho gabrielke dudgeon and Dylan aquino doj whom I know will be ethical and never mistreat victimize ny family as since reporting being a victim of cybercrime social media id theft fraud emvmbezzelment extortion in cyberspace perps anthony roy 147 fb rodney ladale scott and my ud 3 intern securoties officers aka Russian fsb center16 hackers I have animmense amount of hardevidence that the amateur perp I id roy guitirrez and Jerry ribiello and also the cable tech organized crime perps also my mobile phone not 1 but 2 but 3 but 4 all compromised I have sim cards cell phones stuck in carrier services and all the mother fucking supporting data reportsubmissions cert9fied letters received Michael hestrin da Riverside ca my $85million you perps have in your possession will be mine and you’ll all be where you belong cois byrd detention facility aka southwestern detention facility aka fuck superior court Auld rd murroeta ca 92562 where I have hard evidence tge perps compromis8bv ny defamt8bg ny character and following me physically harassing me in a court room att3fanxe as well as the perp I id affiliated with the perp that said it is her daughter restraining irder wearing kcackisand divkies and checkered button up that was removed from courtroom and sent to 1st floor also I id every damn one of you so obvious I have license plates fuck you hey any one of those opportunist9c women want to help organize what I have already fir my resubmissions that are Goin to be compromised nomo 26267 jasmine avd murroeta ca 92563 858-663-8466 text me the perps keep forwarding my tm9bile calls to to the compromised by isreal ornelas perp my cricket wireless cell phobe as well as cjanig the ip address on all of my cell phones but hey I HAVE HARDEVIDENCE BOXESRECRIPTS NOONWWILLEVERHAVEBUTMEDEADBEATS oh I have the origional email I sent kindly requesting gov official etc assistance and all responses confirmation submissions I sent the perps scrambles versions I do not have
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Heelp26267jasmineavemurrietaca