DBSI Bosses Charged With Lying About Firm's Finances

Law360, New York (April 11, 2013, 10:17 PM EDT) -- A federal grand jury on Wednesday indicted the former president and three top officers of bankrupt real estate investment company DBSI Inc. on charges that they represented that the company was profitable when it was actually using new investor funds to pay returns to other investors.

The 83-count indictment includes counts of conspiracy to commit securities fraud, wire fraud, mail fraud and interstate transportation of stolen property arising out of the collapse of DBSI, which filed for bankruptcy in November 2008. It seeks forfeiture of property...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.