Two Florida Residents Charged In Investment Scheme
Eric Mathe 42, of North Bay Village, Florida and Ashif Jiwa 55, of Miami, Florida were charged in by indictment, unsealed today, with wire fraud in an investment scheme, announced United States Attorney Zane David Memeger. The indictment alleges that between February 2009 and February 2010, Mathe and Jiwa defrauded investors located in the Eastern District of Pennsylvania and elsewhere, by making false representations of ownership of Federal Communication Commission (FCC) Low Powered Television (LPTV) construction permits and licenses to induce investments in Mathe’s now defunct Florida based company Vision Broadcast Network (VBN). Mathe and Jiwa are alleged to have defrauded investors out of at least $1,688,150.
If convicted, the defendants face a maximum sentence of 20 years= imprisonment, a three-year term of supervised release, a $250,000 fine, and a $100 special assessment.
The Securities and Exchange Commission has filed a related civil action against Mathe and Jiwa in Miami, Florida.
This case was investigated by the Federal Bureau of Investigation with assistance from the Miami Regional Office of the United States Securities and Exchange Commission. It is being prosecuted by Assistant United States Attorney Melanie Babb Wilmoth.
An Indictment or Information is an accusation. A defendant is presumed innocent unless and until proven guilty.
UNITED STATES ATTORNEY'S OFFICE, EASTERN DISTRICTof PENNSYLVANIA
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PATTY HARTMAN, Media Contact, 215-861-8525