Two Convicted in International Investment Fraud Scheme

by ParkmanLaw on May 23, 2013

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A federal grand jury in Tampa has convicted Paul R. Gunter and Simon A. Odoni on charges of their connection with an international investment fraud scheme.  The fraud involved selling worthless stock from hijacked dormant, publicly traded companies in the United States to people in the United Kingdom using boiler room telemarketers.

Their victims wired more than $127 million to Gunter’s bank account, and another $10 million was obtained through a FOREX currency trading scheme. The purchases made with their victims’ money included an airplane, a Ferrari, and property in Florida, England, and the Caribbean.  They are also guilty of stealing the identities of the dormant publically traded companies, creating shell companies, and selling them to Gunter and co-conspirators.

Also in connection with this scam, two Houston lawyers were convicted of conspiracy to commit wire fraud in May 2012 for helping Gunter steal the identities of the companies.

Paul Gunter, who is originally from London, was living in Odessa when he was arrested in March of 2008 by federal agents.  He, along with Simon Odoni were found guilty on April 19th of three counts of conspiracy to commit mail fraud, wire fraud and money laundering; 19 counts of mail and wire fraud; and 14 counts of money laundering.

While a sentencing date has yet to be set, both men may essentially be facing life sentences.  According to the federal statutes in this case, each conspiracy, mail, and wire fraud charge carries a maximum sentence of 20 years.  Paul Gunter had been living under house arrest in Odessa before he was taken into custody after the verdict was announced.  According to jail records, Simon Odoni was also taken into custody and both spent the night in Pinellas County jail.

If you find yourself facing federal fraud charges, it is important to find an experienced federal wire fraud attorney to represent you.  The criminal attorneys of Parkman & White, LLC have a history of success in the court room and are ready to represent clients nationwide.

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  • Michael Bian

    Telemarketing has a very important role to play in direct sales and marketing.

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