Meridian Founder Seeks Lighter Sentence For $100M Fraud

Law360, New York (February 6, 2012, 4:37 PM EST) -- The bankrupt founder of defunct investment company Meridian Mortgage Investors, who copped to stealing $100 million in an investment fraud scheme, asked a judge for leniency Friday, saying the scheme was the result of desperation and not intentional.

Frederick Darren Berg says in a sentencing memorandum that he began Meridian as a legitimate business and that he was forced into perpetrating the fraud as a result of the economy turning sour. In addition, he says, the court should take into consideration the fact that his agreement...
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