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A Sacramento man, Ross A. Rojek, was sentenced to 75 months in prison and ordered to pay $2.5 million to his victims. Rojek, 37, pleaded guilty to one count of securities fraud and one count to mail fraud in federal court, that was presided over by Judge Lawrence K. Karlton. The securities fraud included a fake real estate investment firm.
Rojek and several associates raised $1.3 million under a false real estate investment firm called American Equities Group LLG. Rojak was responsible for solicitating materials claiming that his firm was in the business of acquiring distressed commercial properties at below-market rates and then reselling them for a profit.
In the case involving mail fraud, Rojek raised $1.2-million after sending fake prospectuses on two companies, Face Information Technology (Face IT) and Sentry Biometrics, to potential investors. The prospectuses noted that the companies were developing face recognition software. If you want write the news for our site please e-mail inf@everythingre.com To discuss this article Click Here to go to our Online Forum |