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Broker Indicted For Alleged Role In $40M Scam

Law360 (April 15, 2009, 12:00 AM EDT) -- A Folsom, Calif., man has been indicted for allegedly orchestrating a $40 million Ponzi scheme that ensnared 150 investors, many of whom he met through his church.

A grand jury handed Anthony Vassallo, 29, who runs Equity Investment Management and Trading Inc., an indictment alleging mail fraud, wire fraud and money laundering, according to the FBI and the Internal Revenue Service’s criminal investigations unit on Wednesday.

Vassallo is set to appear before a magistrate judge in the U.S. District Court for the Eastern District of California...
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