Meridian Mortgage Founder Cops To $100M Fraud

Law360, New York (August 3, 2011, 2:01 PM EDT) -- The bankrupt founder of defunct investment company Meridian Mortgage pled guilty in a Washington state federal court on Tuesday, admitting he stole $100 million in an investment fraud scheme.

Frederick Darren Berg, 49, copped to counts of wire fraud, money laundering and bankruptcy fraud. According to prosecutors, he duped more than 1,000 investors into thinking his real estate funds generated profits through property sales — when, in fact, he used the money to pay off earlier investors and buy a mansion, jets and luxury cars....
To view the full article, register now.



Case Information

Case Title

Magistrate judge case number: 

Case Number



Washington Western

Nature of Suit

Date Filed

October 14, 2010

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.