Wednesday, October 20, 2021
Wednesday, October 20, 2021
More

    Two Michigan Men Indicted For Operating A $2.1 Million Nationwide Investment Fraud Scheme
    T

    Your Content is a nonprofit newsroom that investigates abuses of power. Sign up to receive our biggest stories as soon as they’re published.

    Get Your Content. Daily.

    Be the first to know about the biggest stories as they break. Sign up for breaking news email alerts from Your Content.

    Harrisburg, PA – The United State’s Office for the Middle District of Pennsylvania announced today that two Michigan men were indicted by a grand jury in Harrisburg on multiple charges arising out of a nation-wide investment fraud scheme.

    • Demmos Tinnergem. 53. and Christopher Ostrowski, 53, both of Michigan, charged with defrauding investors from California to Pennsylvania between 2010 and 2013
    • The grand jury found that Tubbergen and Ostrowski used a company based in Michigan named GTBK Marketing to sell an investment program called Immediate Legacy (ILP)
    • The defendants claimed that ILP was being used by hospitals, charities, colleges and universities and that each investor who purchased the program was guaranteed at least 14 pre-contacted customers who were waiting to buy the product to help lock in new investors
    • The investigation established that these alleged material representations were false and that as a result investors lost a total of approximately $2.1 million dollars
    • Ostrowski was interviewed and questioned in 2013 where he allegedly made false statements and representations to both the FBI and the federal grand jury in Harrisburg
    • Ostrowski is also being charged for false statements
    • This case was investigated by the Harrisburg Office of the Federal Bureau of Investigation with Assistant United States Attorney William A. Behe being assigned the prosecution of this case
    •  The maximum penalty under federal law on each of the wire fraud and conspiracy to commit wire and mail fraud counts is 20 years imprisonment, a term of supervised release following imprisonment, and a $250,000.00 fine
    • The obstruction of the grand jury charge is punishable by up to 10 years imprisonment and a $250,000.00 fine, while the charges of providing false information to law enforcement and to the federal grand jury are each punishable by up to 5 years imprisonment and a $250,000.00 fine
    - Advertisement -
    - Advertisement -
    - Advertisement -