June 15, 2016-Miami, Florida
The US Attorney’s Office for the Southern District of Florida announced that John Utsick, 75, of Miami Beach, FL, pled guilty for his role in a $207 million mail fraud scheme. He faces up to 20 years in prison.
According to the press release, Utsick has agreed that he caused losses of over $200 million and has agreed to pay restitution of over $169 million. Utsick was extradited from Brazil in December 2014. His scheme used two companies The Entertainment Group Fund and Worldwide Entertainment to perpetrate the fraud.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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