We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Feds Call Philly PE Firms A Ponzi Scheme, Bosses Indicted

Law360, New York (July 3, 2017, 5:08 PM EDT) -- The heads of a pair of purported private equity boutiques last week were charged with running a Ponzi scheme that bilked investors out of $1.5 million, with the bulk of the funds promised to finance real estate deals actually being used for lavish personal expenses.

Philadelphia federal prosecutors say Carl Frederic Sealey, 42, and Eric Enge, 44, were top executives of Global Standard Industries Inc. and SEK Industries Inc., and claimed to be running an operation focused on "mid-cap and large-cap ventures," with more than $15...
To view the full article, register now.

Related

Sections

Case Information

Case Title

USA v. SEALEY et al


Case Number

2:17-cr-00347

Court

Pennsylvania Eastern

Nature of Suit

Date Filed

June 29, 2017

Law Firms

Companies

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.