Home Tampa Press Releases 2009 Sarasota Husband and Wife Team Indicted for Investment Fraud

Sarasota Husband and Wife Team Indicted for Investment Fraud

U.S. Attorney’s Office December 17, 2009
  • Middle District of Florida (813) 274-6000

TAMPA, FL—United States Attorney A. Brian Albritton, along with Steven E. Ibison, Special Agent in Charge, Federal Bureau of Investigation, Tampa Field Division, and Linda J. Osuna, Special Agent in Charge, Internal Revenue Service, Criminal Investigation, announced the return by a grand jury of an indictment charging John S. Morgan (51 years of age) and his wife Marian I. Morgan (55 years of age), of Sarasota, with conspiracy, six counts of wire fraud, six counts of illegal monetary transactions, and five counts of transportation of stolen property. If convicted, the maximum penalty in federal prison on each count is: five years for conspiracy, 20 years for wire fraud, 10 years for illegal monetary transactions, and 10 years for transportation of stolen property. The Indictment also notifies the defendant that the United States is seeking a forfeiture money judgment in the amount of $10,085,375.00, the proceeds of fraud. The Morgans were arrested in Sri Lanka on August 14, 2009. At the request of the United States, the Sri Lankan government, with the assistance of the FBI, returned the Morgans to the United States on December 11, 2009.

According to the indictment, the Morgans were involved in a multi-million dollar investment fraud scheme through Morgan European Holdings, a Danish company with offices in Sarasota and Denmark. The scheme involved a classic fictitious “prime bank instrument trading program”.

The United States Attorney’s Office seeks to identify the individuals who purchased investment offerings from Morgan European Holdings APS (MEH). If you made such investment(s) in MEH, visit our website at www.usdoj.gov/usao/flm/vw and click on the “US v. Morgan” link for additional information.

This case was investigated by the Federal Bureau of Investigation and Internal Revenue Service - Criminal Investigation. It is being prosecuted by Assistant United States Attorneys Terry A. Zitek and Cherie L. Krigsman.

An indictment is merely a formal charge that a defendant has committed a violation of the federal criminal laws, and every defendant is presumed innocent unless, and until proven guilty.