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Press Release

California Man Charged with Investment Fraud

For Immediate Release
U.S. Attorney's Office, District of New Jersey

CAMDEN, N.J. – A California man has been arrested for defrauding victims in New Jersey through an investment scheme, U.S. Attorney Craig Carpenito announced today.

Christopher Glynn, 57, of Burbank, California, was indicted in August 2019 on seven counts of wire fraud and four counts of money laundering. After evading law enforcement for nearly a year, Glynn was arrested in Medford, Oregon, and is expected to make his initial appearance before a judge in the District of Oregon later this afternoon.

According to the indictment:

In 2014, Glynn maintained a variety of corporate entities, including U.S. Grant Distribution Group, PG Philanthropic Initiative, Perrarus Global Philanthropic Initiative, and others. Glynn also claimed affiliation with an international trust that purportedly was funded with billions of dollars, whose stated purpose was to “aide in the economic recovery of each of the individual US States, as well as the United States of America as a whole.” 

Relying on the air of legitimacy created by his various entities and the international trust, Glynn approached two victims in Vineland, New Jersey, and offered them a “once in a lifetime opportunity” to invest in a “business development loan” related to the international trust. Glynn told the victims that this business development loan would be used for authorized business and legal expenses related to his entities and the international trust. The loan also would be used for expenses related to an animal care foundation and shelter that Glynn was helping the victims to set up, in memory of the victims’ recently deceased family member. Glynn assured the victims that the international trust would guarantee their business development loan, the loan would generate specific returns for the victims, and the victims could use the returns to fund their animal care foundation and shelter. 

As part of his fraudulent scheme, Glynn sent emails and other correspondence and contracts to the victims. Glynn also arranged for conference calls between himself, his associates, and the victims, including one call that purportedly included “a direct representative from the NSA (National Security Agency), and a representative from either DHS (Department of Homeland Security) or the FBI.”  Glynn took these steps in order to convince the victims that they were investing in a legitimate business opportunity. 

Glynn ultimately directed the victims to wire funds to various bank accounts that Glynn controlled, in order to fund the “business development loan.” The victims did so, relying on Glynn’s representations about how the funds would be used.

Instead of using the loan in the manner he had promised, however, Glynn and his associates misappropriated the victims’ loan money and used it for personal expenses and other expenses that were unrelated to any charitable or business purpose that the victims sought to advance or that Glynn promised to achieve.

Glynn also took out credit cards in the name of the victims’ animal foundation, which he promised that he and his associates would only use for authorized expenses related to that foundation. Instead of using the credit cards in the manner he had promised, Glynn and his associates used the credit cards for retail items and other unauthorized personal expenses and incurred late fees.

The wire fraud counts each carry a maximum potential penalty of 20 years in prison and a $250,000 fine. The money laundering counts each carry a maximum potential penalty of 20 years in prison and a $500,000 fine or twice the value of the property involved in the offense.  

U.S. Attorney Carpenito credited special agents of the FBI’s Atlantic City Resident Agency, under the direction of Acting Special Agent in Charge Joe Denahan in Newark, with the investigation leading to the charges.

The government is represented by Assistant U.S. Attorney Sara A. Aliabadi of the U.S. Attorney’s Office Criminal Division in Camden.

The charges and allegations contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

Updated August 14, 2020

Securities, Commodities, & Investment Fraud
Press Release Number: 20-256