Menands Man Arrested on Charges of Making False Representations to Investors

ALBANY, NY—RICHARD S. HARTUNIAN, U.S. Attorney for the Northern District of New York; LEV J. KUBIAK, Special Agent in Charge, U.S. Department of Homeland Security, Immigration & Customs Enforcement; PATRICIA J. HAYNES, Special Agent in Charge, Internal Revenue Service, Criminal Investigation; WILLIAM LEEGE, Resident Agent in Charge, United States Secret Service; and JOHN F. PIKUS, Special Agent in Charge, Federal Bureau of Investigation, Albany Division, announced that CHRISTOPHER BASS, age 52, of Menands, New York, was arrested today. A federal complaint charged that BASS made, or caused to be made, false representations to investors regarding their investments in securities promoted, directed, and managed by BASS, omitted to disclose material facts to investors regarding his use and misappropriation of investor funds, and enriched himself at the investors' expense, in violation of 15 U.S.C. §§ 78j(b) & 78ff; and 17 C.F.R. §240.10b-5.1

After his arrest, BASS was taken before United States Magistrate David R. Homer for his initial appearance. BASS was held pending a bail hearing scheduled for Wednesday, February 10, 2010, before Magistrate Judge Homer.

The complaint alleges that from January 2007 and continuing to the present day, BASS has been promoting, directing, and managing a fraudulent investment program involving the purchase and sale of securities to investors throughout the United States using, at various times, the business names “Revisco Finanz AG”, “Revisco Finance USA”, “Swiss Capital Harbor/USA, LLC” and other entities that include the name “Swiss Capital Harbor” (collectively, the “Investment Scheme”). The complaint alleges that the investment scheme involved more than 200 investors who collectively invested more than $5,500,000.

The complaint further alleges that whereas many investors were told that the money they transferred to BASS and/or the investment scheme would be sent to one or more countries in Europe, and then invested (with other investors' money) in stocks, bonds, “funds”, foreign exchange, commodities, futures, derivatives, and, after January 2008, primarily in environmental projects such as power plants, less than 50 percent of the $5,500,000+ received from investors of the investment scheme was sent to Europe. The complaint alleges that the majority of the investors' deposits (1) was disbursed to BASS or used to pay for personal expenses of BASS; (2) was used to repay investors who demanded a return of their initial investment and/or income allegedly earned on their investments; and (3) was used to pay for expenses incurred in operating the investment scheme.