Broward Resident Indicted in $4 Million Ponzi Scheme
|U.S. Attorney’s Office September 30, 2013|
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida; Michael B. Steinbach, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office; and Eric I. Bustillo, Regional Director, Securities and Exchange Commission (SEC), announce the filing of an indictment charging defendant Jenny Coplan, 54, of Lauderhill, with three counts of wire fraud, in violation of Title 18, United States Code, Section 1343. In a parallel action, the SEC announced civil charges against Coplan.
According to the indictment filed in this matter, Coplan was the president of Immigration General Services LLC (IGS) and solicited investors for purported investments in federal bail and immigration bonds. Coplan promised investors interest rates exceeding 60 percent a year on their investments.
According to the indictment filed in this matter, to induce investors to invest money with IGS, Coplan made material oral misrepresentations, which included, among others, promises that the investments were insured by the Federal Deposit Insurance Company, that the investments were secure and had little risk, and that Coplan had the experience and licenses to invest in these bonds. Further, to induce investors to invest money with IGS and to keep their investment with IGS, Coplan made material written misrepresentations to investors, including, among others, providing investors fraudulent and fictitious financial statements and fraudulent and fictitious e-mails from the bond corporation in which investors were purportedly investing.
Induced by Coplan’s misrepresentations, the indictment alleges, investors invested approximately $4 million with Coplan by wiring money, writing checks, or providing cash to Coplan. Rather than investing the money in the bonds as promised, Coplan used the money from new investors to pay old investors and used the money for her personal use and benefit.
If convicted, the defendant faces a possible maximum statutory sentence of 20 years in prison for each count of wire fraud.
Mr. Ferrer thanked the FBI and SEC for their work on this case. The case is being prosecuted by Assistant U.S. Attorney Michael N. Berger.
An indictment is only an accusation, and the defendant is presumed innocent until proven guilty.