Three Individuals Charged in Florida-based Investment Fraud Scheme that Defrauded Over 150 Investors
A grand jury in Miami indicted three individuals for their alleged participation in an investment fraud scheme that targeted investors throughout the United States, defrauding them out of approximately $15 million. The main office operated out of Sunrise, Florida.
Benjamin G. Greenberg, Acting United States Attorney for the Southern District of Florida, and Robert F. Lasky, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, made the announcement.
Daniel Joseph Touizer, 44, of Aventura, Saul Daniel Suster, 65, of Sunny Isles, and John Kevin Reech, 55 of Delray Beach, were charged with conspiracy to commit mail fraud and wire fraud and substantive mail fraud charges. In addition, Touizer was charged with substantive wire fraud charges as well as conspiracy to commit money laundering and substantive money laundering charges.
The Indictment charges a conspiracy involving the sale of stock in various investment companies owned and operated by Touizer. According to the Indictment, from July 2010 to November 2017, the defendants solicited investors located throughout the United States to buy shares or ownership units in several companies, including, Omni Guard, LLC, Infinity Diamonds, LLC, Infinity Direct Insurance, LLC, d/b/a Covida Holdings, LLC, Wheat Capital Management, LLC, Wheat Self-Storage Partners I, LP, Wheat Self-Storage II, LP, and Wheat Self-Storage Partners III, LP (collectively referred to as the “Investment Companies”).
The materially false statements, included, but were not limited to, statements that the Investment Companies were successful and profitable and would provide a “safe and profitable investment,” that the value of the investment would increase significantly, investor funds would be used for sales and marketing, working capital and general corporate purposes, and that Touizer did not personally take a salary or draw on funds invested in certain Investment Companies.
As stated in the Indictment, depending on which Investment Company stock they offered, the defendants and their co-conspirators’ stole between 50% and 80% of investor proceeds in undisclosed commissions and fees.
Mr. Greenberg commended the investigative efforts of the FBI. Mr. Greenberg also thanked the Florida Office of Financial Regulation. This case is being prosecuted by Assistant U.S. Attorney Roger Cruz.
Individuals who believe that they may be a victim in this case should contact the FBI at www.fbi.gov for more information.
An indictment is merely an allegation and the defendants are presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.