Alleged $228M Real Estate Schemer Arrested In France

Law360, New York (September 29, 2010, 4:08 PM EDT) -- A California man accused of running a $228 million real estate investment bond Ponzi scheme was arrested Sept. 13 in France, the FBI said Wednesday, a day after a criminal complaint was unsealed in Los Angeles.

Bruce Fred Friedman, charged with fraud Tuesday in the U.S. District Court for the Central District of California, was arrested in front a hotel in Cannes and is being held in Aix-en-Provence, France, where he awaits extradition to the U.S., a process that could take several months, FBI spokeswoman Laura...
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