United States Attorney John L. Ratcliffe
Eastern District of Texas
FOR IMMEDIATE RELEASE CONTACT: DAVILYN WALSTON
WEDNESDAY, AUGUST 29, 2007 PUBLIC INFORMATION OFFICER
WWW.USDOJ.GOV/USAO/txe PHONE: (409) 839-2538
CELL: (409) 553-9881
TEXARKANA MAN GUILTY OF WIRE FRAUD VIOLATIONS
TEXARKANA, TX -- United States Attorney John L. Ratcliffe announced today that a 48-year-old Texarkana, Texas man has pleaded guilty to wire fraud charges in the Eastern District of Texas.
MARK WAYNE JASTER pleaded guilty today before United States District Judge David Folsom.
According to information presented in court, f rom 2002 through 2005, Jaster represented to others that he was involved in the business of personal investment services. Specifically, he represented that he conducted business through one or more entities, including (but not limited to):
Mark Jaster, Ph.D., Personal Investment Service;
InvestWise, Inc. (Personal and Private Pension Fund Investments); and
InvestedWise, LLC (Personal and Private and Corporate Pension Funds).
Through these entities, Jaster solicited funds from individuals for the stated purpose of investing these funds for them. Jaster would tell potential investors that he actively managed money for individual investors through his InvestWise account at A.G. Edwards and Sons, Inc. ("A.G. Edwards") in Texarkana, Texas. Jaster advised potential investors that through investing money in various investments to include real estate ventures, stocks, bonds, mutual funds, options, and pension funds, he achieved significant returns for his investors. After receiving an investor's money for investment, Jaster would periodically communicate with the investor and fraudulently advise the investor that the investor's investment had grown significantly. On occasion, Jaster would provide an investor a computer generated account summary and fraudulently represent that the client's investment had grown significantly. Jaster also would communicate with an investor by means of wire communications in interstate commerce, specifically by e-mail communications. Whenever an investor questioned the status or legitimacy of the investment, Jaster would seek to reassure the investor with a "lulling communication" that included false representations to reassure the investor as to the status or legitimacy of the investment. Jaster did not invest investors' funds, but withdrew and used investor funds for his own personal expenses.
Jaster faces up to 20 years in federal prison and a fine of up to $250,000.00 at sentencing. A sentencing date has not been set.
This case is being investigated by the Federal Bureau of Investigation and the Texas State Securities Board and is being prosecuted by Assistant United States Attorney Gregg A. Marchessault.
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