Case library · The Con
The Friendly Money Manager
United States v. Slatkin (2003)
Charge: Mail and wire fraud, money laundering, and conspiracy to obstruct a federal regulatorCourt: C.D. Cal.State: CaliforniaDocket: The Con
The facts
A technology entrepreneur held himself out to friends and acquaintances as a financial adviser. Over about fifteen years he took more than $500 million from roughly 800 people. He sent them account statements showing returns of around 24 percent a year. Most of the money was never invested at all. New money was used to pay earlier investors, and much of the rest went on property, private jets, cars and artwork.
You have the facts the court had. Guilty or not guilty? Call it in the game with your friends, then see what the court actually decided. Wrong call, you drink.
Citation: United States v. Slatkin, No. CR 02-313 (C.D. Cal. 2003)
Read more at justice.gov. The source reveals the outcome.