Fremont Woman Charged in $1 Million Fraud Scheme
|U.S. Attorney’s Office March 26, 2013|
SAN JOSE—A San Jose federal grand jury indicted Rosemarie Gan, of Fremont, on March 13, 2013, with five counts of wire fraud, United States Attorney Melinda Haag announced.
According to the indictment, Gan, 49, is alleged to have stolen more than $1,000,000 from various investors who believed they were investing in her company, Argee’s Travel and Gifts. Investors into Argee’s Travel and Gifts expected their investments to fund the purchase of airplane tickets, and, thereafter, entitle them to commission payments following the sale of these airplane tickets. Instead, Gan allegedly stole investors’ funds and used them to pay delinquent investor commission payments and to pay for her personal living expenses.
Yesterday, Gan made her initial appearance in federal court in San Jose before Magistrate Judge Howard Lloyd. Gan was detained pending a detention hearing. Gan’s detention hearing is scheduled for 10:30 a.m. on March 28, 2013, before Magistrate Judge Paul Grewal.
The maximum statutory penalty for each count of wire fraud, in violation of Title 18, United States Code, Section 1343, is 20 years’ imprisonment and a fine of $250,000 or twice the gross gain or gross loss from the offense, plus restitution. However, any sentence following conviction would be imposed by the court after consideration of the United States Sentencing Guidelines and the federal statute governing the imposition of a sentence, 18 U.S.C. § 3553.
Jeff Schenk is the Assistant U.S. Attorney who is prosecuting the case with the assistance of Kamille Singh. The prosecution is the result of an investigation by the Federal Bureau of Investigation.
Please note, an indictment contains only allegations against an individual and, as with all defendants, Gan must be presumed innocent unless and until proven guilty.