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The previous founder and CEO, CFO, and vp of enterprise growth of endpoint e mail safety service supplier GigaTrust had been indicted for his or her alleged involvement in a multimillion-dollar monetary fraud scheme that included deceptive traders and impersonating a buyer, auditor, and an legal professional.
Robert Bernardi, founder and CEO of the now-defunct GigaMedia Entry Corp. by which GigaTrust operated, former CFO Nihat Cardak, and Sunil Chandra, former VP of enterprise growth, at the moment are in federal custody. They face fees for false and deceptive illustration of the corporate’s funds in a scheme that raised some $50 million from traders and lenders through phony paperwork and impersonating a buyer, auditor, and an legal professional.
GigaTrust filed for chapter in November 2019.
“Luring traders underneath false pretenses and misappropriating their cash for private achieve is precisely what Giga Belief’s [sic] defendants are charged with as we speak. The cash they allegedly constructed from this scheme totals tens of thousands and thousands of {dollars}. Irrespective of how profitable schemes of this nature could seem from the beginning, they are going to in the end end in federal legal fees,” mentioned FBI Assistant Director-in-Cost Michael J. Driscoll in an announcement.
All three males reside in Virginia. Bernardi, 68, and Cardak, 51, each face one rely of conspiracy to commit securities fraud, one rely of conspiracy to commit financial institution fraud, one rely of conspiracy to commit wire fraud affecting a monetary establishment, and one rely of aggravated identification theft. Chandra, 80, faces one rely of conspiracy to commit wire fraud affecting a monetary establishment and one rely of aggravated identification theft.
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