Charlotte man pleads guilty to $700K+ investment fraud: DOJ
CHARLOTTE (QUEEN CITY NEWS) – A Charlotte man who pleaded guilty to defrauding over 100 investors out of more than $700,000 is now awaiting his sentence, the U.S. Attorney’s Office for … Charlotte resident Frank Mercado, 26, has pleaded guilty to wire fraud for defrauding over 100 investors out of over $700,000 in a scheme that involved presenting himself as an expert investor through a hedge fund and using some of the money for lifestyle purchases such as bars, restaurants, and Airbnb rentals. Mercado faces up to 20 years in prison on the fraud charge. No court date has been set for Mercado's sentence.
Yayınlanan : 2 hafta önce ile QCN Digital Staff içinde Politics
CHARLOTTE (QUEEN CITY NEWS) – A Charlotte man who pleaded guilty to defrauding over 100 investors out of more than $700,000 is now awaiting his sentence, the U.S. Attorney’s Office for the Western District of North Carolina announced on Wednesday.
Charlotte resident Frank Mercado, 26, pleaded guilty to wire fraud on Wednesday. The initial complaint filing was made in Made to the US Securities and Exchange Commission.
Court records stated that from 2019 through 2022 Mercado caused over 100 investors to lose nearly $700,000 as part of the scheme. Mercado falsely presented himself as an expert investor to friends and family members through a hedge fund while using some of the money on lifestyle purchases that included bars, restaurants, and Airbnb rentals.
Mercado is out on bond and no court date has been set. He faces up to 20 years in prison on the fraud charge.
Konular: Crime, Fraud, Corruption