Prosecutors Charge Fund Founder With Fraud

Law360, New York (March 19, 2007, 12:00 AM EDT) -- A founder of a purported investment company now faces jail time and fines after he was criminally charged last week with securities fraud in connection with a scheme that allegedly ripped off millions from investors.

David A. Dadante, of South Euclid, Ohio, faces two counts of securities fraud in the U.S. District Court for the Northern District of Ohio. The case follows a suit filed last year by the U.S. Securities and Exchange Commission that also alleged securities fraud.

In the criminal case filed Thursday, court...
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