Criminal Complaint Filed in Investment Fraud Case
| U.S. Attorney’s Office February 14, 2014 |
BUFFALO, NY—U.S. Attorney William J. Hochul, Jr. announced today that Christopher F. Venti has been arrested on a criminal complaint charging him with wire fraud in connection with his involvement in various investment schemes. Wire fraud carries a maximum penalty of 20 years in prison, a fine of $250,000, or both.
Assistant U.S. Attorney MaryEllen Kresse stated that the criminal complaint charges the defendant with executing schemes to defraud and to obtain money from individuals by misrepresenting the existence and success of investment opportunities in order to convince these victims to transfer funds to him or to bank accounts he controls. Between October 2011 and November 2013, Venti was involved in investment schemes that netted more than $7.1 million in investor funds, of which approximately $1.1 million went to bank accounts controlled by Venti.
The criminal complaint was the result of an investigation on the part of special agents of the Federal Bureau of Investigation, under the direction of Brian Boetig.
The fact that a defendant has been charged with a crime is merely an accusation, and the defendant is presumed innocent until and unless proven guilty.