Home San Francisco Press Releases 2009 William "Boots" Del Biaggio, III Pleads Guilty to Securities Fraud
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William "Boots" Del Biaggio, III Pleads Guilty to Securities Fraud
Silicon Valley Businessman Defrauded Lenders in Connection with more than $100 Million in Loans

U.S. Attorney’s Office February 05, 2009
  • Northern District of California (415) 436-7200

SAN FRANCISCO, CA—Pursuant to a plea agreement, William “Boots” Del Biaggio, III, of San Jose, Calif., pleaded guilty yesterday before Hon. Charles R. Breyer to one count of securities fraud, announced United States Attorney Joseph P. Russoniello.

In December 2008 the United States charged Del Biaggio, 41, with securities fraud, charging that in 2007 and 2008 he defrauded multiple parties to obtain and guarantee loans of approximately $100 million in connection with various ventures, including the purchase of an interest in a major national sports league franchise. In addition to pleading guilty to this charge, Del Biaggio agreed to pay restitution in connection with his misuse of funds at three investment funds at which he was a principal: Sand Hill Capital Partners III, BDB Management, LLC, and BDB Management III.

The plea agreement provides for a calculation of imprisonment between 78 and 97 months. However, the sentence will be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553. The maximum statutory penalty for securities fraud in violation of 18 U.S.C. Section 1348 is 25 years imprisonment and a fine of $250,000 or up to twice the defendant’s gain or the victims’ loss, plus restitution if appropriate. Sentencing is scheduled for June 10, 2009.

“Those who defraud lenders and investors must be held to account for their misdeeds, which often have a devastating financial impact on their victims,” Russoniello said. “The prosecution of Mr. Del Biaggio in this case should send a strong message that investment fraud won’t be tolerated, and any attempt to profit from it will not be worth the risk.”

Timothy Crudo is the Assistant U.S. Attorney who is prosecuting the case with the assistance of Ponly Tu. The prosecution is the result of an investigation by the Federal Bureau of Investigation and the Securities and Exchange Commission.

Further Information:

Case #: CR 08-0874 CRB

A copy of this press release may be found on the U.S. Attorney's Office's website at www.usdoj.gov/usao/can.

Electronic court filings and further procedural and docket information are available at https://ecf.cand.uscourts.gov/cgi-bin/login.pl.

Judges' calendars with schedules for upcoming court hearings can be viewed on the court's website at www.cand.uscourts.gov.

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