Broker Pleads Guilty To Leading $80M Ponzi Scheme

Law360, New York (February 1, 2013, 8:10 PM EST) -- A Folsom, Calif., man pled guilty Friday to charges that he led an $80 million investment fraud scheme that harmed more than 300 investors, crimes that could earn him up to 20 years in prison.

Anthony Vassallo, 33, entered the plea Friday, nearly four years after the federal government charged him with conspiracy, fraud and securities law violations for leading the Ponzi scheme and the U.S. Securities and Exchange Commission slapped Vassallo and his partner with a civil suit over the same allegations. 

“Anthony Vassallo and his co-conspirators...
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