Unregistered Notes And Bonds

A man ran a finance company that sold promissory notes and bonds direct to the public. Investors bought roughly two hundred and fifteen million dollars of the notes. Prosecutors said the securities were never registered and that investors were told false things about the business. Losses ran past four hundred million dollars. The charges also covered mail fraud, tax evasion and a conspiracy to obstruct an investigation. He said he had cooperated with investigators and was owed credit for it.