CLEVELAND (AP) — A northeast Ohio man accused of defrauding
people out of $1.8 million in an investment scheme has pleaded guilty on
14 counts in federal court.
Prosecutors say 34-year-old Anthony
Davian of Copley pleaded guilty Tuesday to one count of securities
fraud, two counts of mail fraud, four counts of wire fraud and seven
counts of money laundering.
Defense attorney Paul Adamson says
Davian intends to do his best to pay full restitution. Adamson says
Davian had good intentions but made some mistakes.
Prosecutors say
Davian promoted and sold securities to at least 20 investors in several
states between 2008 and 2013 through his hedge fund, Davian Capital
Advisers LLC. Prosecutors say Davian misrepresented information about
his business and used investors’ money to pay personal expenses.
He’ll be sentenced July 2.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.
CLEVELAND (AP) — A northeast Ohio man accused of defrauding
people out of $1.8 million in an investment scheme has pleaded guilty on
14 counts in federal court.
Prosecutors say 34-year-old Anthony
Davian of Copley pleaded guilty Tuesday to one count of securities
fraud, two counts of mail fraud, four counts of wire fraud and seven
counts of money laundering.
Defense attorney Paul Adamson says
Davian intends to do his best to pay full restitution. Adamson says
Davian had good intentions but made some mistakes.
Prosecutors say
Davian promoted and sold securities to at least 20 investors in several
states between 2008 and 2013 through his hedge fund, Davian Capital
Advisers LLC. Prosecutors say Davian misrepresented information about
his business and used investors’ money to pay personal expenses.
He’ll be sentenced July 2.
Copyright 2014 The Associated Press. All rights
reserved. This material may not be published, broadcast, rewritten or
redistributed.