Frederick Darren Berg, mastermind of Washington state’s biggest Ponzi scheme, escapes from California prison (Seattle Times)

Frederick Darren Berg, mastermind of Washington state’s biggest Ponzi scheme, escapes from California prison

http://bit.ly/2kxtLfw

Berg was sentenced to 18 years in prison after pleading guilty to defrauding hundreds of investors of more than $100 million.

Frederick Darren Berg, the man responsible for the biggest Ponzi scheme in Washington state history by bilking nearly $100 million out of investors, has walked away from his 18-year sentence at a federal prison in California, according to the U.S. Marshals Service.

A deputy supervisor in the marshals office in Fresno, Calif., confirmed that Berg, 55, of Mercer Island,  is a fugitive after walking away from a work camp at the U.S. prison at Atwater, Calif., on Wednesday afternoon. The supervisor declined to give his name, saying he was not authorized to speak publicly about the matter.

Berg was sentenced to 18 years in prison in Seattle in 2012 after pleading guilty to defrauding hundreds of investors of more than $100 million through the Meridian Mortgage investment funds he ran for nearly a decade.

The U.S. Attorney’s Office in Seattle, which prosecuted Berg, had no immediate public comment.

General

via Seattle Times http://bit.ly/2zAaWuh

December 7, 2017 at 12:06PM