FLORIDA MAN CHARGED WITH DEFRAUDING U.S. INVESTORS
BOSTON, Mass. - A Florida man was arrested Friday on federal charges the he and his Canadian-based associate, who was also charged, defrauded investors of millions of dollars in a fraudulent investment scheme.
ALBERT E. GILNER a.k.a. Alan Gilner, 74, of New Smyrna Beach, Florida, was charged with conspiring with RANDI A. BOCHINSKI, 46, of Kelowna, British Columbia, to defraud investors out of millions of dollars. Gilner and Bochinski are also both charged in the superseding indictment with four counts of wire fraud, three counts of mail fraud and one count of money laundering.
According to the superseding indictment, Gilner and Bochinski promoted a series of high-yield investment programs, whereby they promised investors significant returns on their investments within a short amount of time. Gilner recruited United States-based investors, including friends and acquaintances in Florida, and also advertised in an investment newsletter that was distributed throughout the country.
Gilner often made the initial presentations selling the high yield investments and brought Bochinski in when he needed assistance in convincing someone to invest. The indictment alleges that once investors sent their money to either Gilner and Bochinski, the defendants diverted the invested funds for other uses.
It is also alleged that in order to lull investors into believing that their funds had been invested as promised, Bochinski and Gilner often made at least some of the promised “return” payments, using other investor money to fund the “returns.” In some instances, Bochinski and Gilner attempted to return principal to frustrated investors by using counterfeit checks.
If convicted, Gilner and Bochinski face a maximum of five years in prison on the conspiracy charge, 20 years in prison on each of the mail and wire fraud charges, and a maximum of 10 years in prison on the money laundering charge. On each charge, they face a $250,000 fine and a three year term of supervision following their incarceration.
Gilner was arrested in Florida on Dec.17, 2010, and is scheduled to appear before U.S. Magistrate Judge Leo T. Sorokin on January 5, 2011, at 3:30 p.m. Bochinski was arrested in British Columbia on June 3, 2010 and awaits extradition.
United States Attorney Carmen M. Ortiz, Postal Inspector in Charge Robert Bethel of the United States Postal Inspection Service’s Boston Division, and Special Agent in Charge William P. Offord of U.S. Internal Revenue Service, Criminal Investigation, Boston Field Division, made the announcement today. The case is being prosecuted by Assistant U.S. Attorney Sarah E. Walters of Ortiz’s Economic Crimes Unit.
The details contained in the indictment are allegations. The defendants are presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
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