July 13, 2015- Fort Myers, Florida
The FBI announced in a Press Release that Dorian Graves, 30, of Naples, Florida, pleaded guilty to wire fraud for operating an investment scheme from February 2009 to April 2015 that raised over $7 million from more than 100 investors nationwide.
Through DG Wealth Management, and other companies he operated, Graves led investors to believe he would invest their money in a pool and would guarantee the returns. He provided fake bank statements showing large balances to the victims to support his misrepresentations.
Only a small portion of the funds were actually invested. Graves distributed much of the raised capital to investors to give the impression that he was actually generating profits. He also used much of the money for personal and business expenses, including a personal chef.
Graves faces 20 years in federal prison. Sentencing has not yet been scheduled.
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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