Broward Resident Pleads Guilty in $4 Million Ponzi Scheme
|U.S. Attorney’s Office May 30, 2014|
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; George L. Piro, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office; and Eric I. Bustillo, Director of Miami Regional Office of the Securities and Exchange Commission (SEC), announce that Jenny Coplan, 55, of Lauderhill, pled guilty for her role in an investment fraud scheme. Sentencing for Coplan is scheduled for August 29, 2013, at 9:30 a.m.
Coplan pled guilty to one count of wire fraud, in violation of Title 18, Untied States Code, Section 1343. At sentencing, the defendant faces a maximum term of 22 years in prison.
According to the plea documents, Coplan was the president of Immigration General Serivces LLC (IGS) and solicited investors for purported investments in federal bail and immigration bonds. Coplan promised investors interest rates on their investments that exceeded 60 percent a year.
According to the plea documents, to induce investors to invest money with IGS, Coplan made material oral misrepresentations, which included, among others, promises that the investments were insured by the Federal Deposit Insurance Company, that the investments were secure and had little risk and that Coplan had the experience and licenses to invest in these bonds. Further, to induce investors to invest money with IGS and to keep their investment with IGS, Coplan made material written misrepresentations to investors, including, among others, providing investors fraudulent and fictitious financial statements and fraudulent and fictitious e-mails from the bond corporation in which investors were purportedly investing.
According to the plea documents, induced by Coplan’s misrepresentations, investors invested approximately $4 million with Coplan by wiring money, writing checks, or providing cash to Coplan. Rather than investing the money in the bonds as promised, Coplan used the money from new investors to pay old investors and used the money for her personal use and benefit.
Mr. Ferrer thanked the FBI and the SEC for their work on this case. The case is being prosecuted by Assistant U.S. Attorney Michael N. Berger.
A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at http://www.usdoj.gov/usao/fls.