Michigan Man Sentenced to Federal Prison Term for Investment Fraud
OCALA, FL—Senior U.S. District Judge Wm. Terrell Hodges has sentenced Bryan T. Zuzga (39, Coldwater, Michigan) to six years in federal prison for conspiracy to commit wire fraud. He was also ordered to pay more than $10.7 million in restitution. Zuzga pleaded guilty on June 17, 2015.
According to court documents, Zuzga and his two conspirators, Jenifer E. Hoffman (38, Clermont) and John C. Boschert (43, Apopka), defrauded over $11 million from more than 100 victims through investments offered in connection with a company called Assured Capital Consultants. As part of their solicitations, the conspirators represented to investors that money would be placed in a Performing Private Placement Investment, and that Boschert had connections to the trading program being used. Investors were told that their investments would be safe and that none of their money would leave the attorney escrow account that belonged to Zuzga, who was represented as being an attorney licensed in Florida. Investors were further advised that their funds would be used as collateral for a line of credit, which would then be used in trading.
None of those representations were true. Zuzga was not an attorney licensed in Florida or any other state, and the funds were not deposited into any escrow account controlled by him. Instead, the three operated a scheme in which money from later investors was paid to earlier investors. The three also used some of the money from the scheme for themselves, including purchasing residences for Hoffman and Zuzga.
In a prior civil proceeding, the United States forfeited two residences belonging to Hoffman and Zuzga, which had been purchased with proceeds from the scheme. The government obtained more than $850,000 from the sale of the properties. The proceeds from those sales were distributed to the victims of the scheme.
Boschert previously pleaded guilty for his role in this case, and was sentenced to nine years in federal prison on June 23, 2015. Hoffman has pleaded guilty to one count of conspiracy to commit wire fraud and one count of making a false tax return. Her sentencing hearing is scheduled for October 22, 2015.
This case was investigated by the Internal Revenue Service – Criminal Investigation, the United States Secret Service, and the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorneys Roger B. Handberg, James Mandolfo, and Nicole M. Andrejko.