This morning in Honolulu U.S. District Court, defendant and former fugitive Peter Heckmann pleaded guilty to wire fraud for his operation of a Ponzi scheme on the Hawaiian Island of Kauai. Wire fraud has a statutory maximum penalty of 20 years in prison and a potential fine of $250,000. Heckmann acknowledged in court that the victim losses in this case exceeded $1 million and that his scheme involved paying older investors with money from new investors in a scheme to defraud the victims.
Heckmann will remain in U.S. Bureau of Prisons custody at the Honolulu Federal Detention Center, awaiting his sentencing on July 25, 2013, at 2:15 p.m.
No comments:
Post a Comment