Meyer Wilson | Investor Claims In the News
Largest Alleged Ponzi Scheme Ever Prosecuted in WA Brews in Seattle
Posted on Feb 17, 2011
Authorities say something is brewing in Seattle-and it isn't coffee.
Frederick Darren Berg is being tied to an alleged financial fraud that is being called the biggest Ponzi scheme ever prosecuted in the state of Washington.
In a statement highly reminiscent of the usual Ponzi patterns, alleged victim Ron Neubauer said, "My oldest friend was getting checks every month - 10 percent, I think, and for years." Neubauer first invested his money in Berg's Meridian Group in 2006, and is a former federal prosecutor.
Berg, 48, is the CEO and founder of Meridian Group, a mortgage-based business. He stands accused of defrauding investors of more than $100 million between the years of 2003 and 2010 through the Seattle-based company.
Prosecutors contest that Berg spent millions of dollars intended for client investments on personal use and a lavish standard of living, including a ritzy Mercer Island mansion valued somewhere in the range of $10 million and two personal jets.
Investors and authorities are left asking how the scheme could have possibly hoodwinked so many, so thoroughly, and for so very long.
In interviews before his arrest last year, Berg stated, "It's really hard to identify where it crossed that line. We certainly didn't intend for that to happen."
Thus far, Berg has pleaded not guilty to the charges.
The Law Firm of Meyer Wilson
The law firm of Meyer Wilson represents clients who have been harmed by investment fraud. For more information, contact the law firm of Meyer Wilson by calling toll free 866-827-6537 or filling out our online form.
Read More About Largest Alleged Ponzi Scheme Ever Prosecuted in WA Brews in Seattle...
Get Your Copy Of This Investment Fraud Report - FREE!
Five Signs of Investment Fraud…And What to Do if it's Happened to You is intended to to expose the ugly truth behind investor fraud and its devastating consequences
Learn how to recognize the key signs of investor fraud and what to do if it's happened to you... BEFORE IT'S TOO LATE. David P. Meyer is a renowned securities and investment fraud attorney. If you entrusted your investments to a financial professional and are worried that fraud or illegal conduct has occurred, you simply CANNOT take any chances, you NEED to get yourself a copy of this report today.
Click here to get your complimentary copy.
Investment Fraud Attorney | Securities Arbitration Attorney | Securities Fraud Attorney | Stockbroker Arbitration Attorney | Stockbroker Misconduct