Client was charged in a conspiracy to commit investment fraud through a Ponzi scheme involving the Genesis Fund, an international Forex currency investment plan spanning from the United States to Central America to Europe and Asia.
RESULT: Case Dismissed as to our client.
The United States Department of Justice Tax Division charged 9 defendants in an 83 count Indictment alleging conspiracy to defraud the United States, mail fraud, wire fraud, promotional money laundering, unlawful monetary transactions, obstruction of justice, tax evasion, false tax returns, and criminal forfeiture. The basis for the government’s allegations involved conduct spanning nine years and involved international jurisdictions from Hong Kong to Costa Rica, the Island of Jersey (Channel Islands) and the Bahamas.
The government alleged this “Ponzi” scheme resulted in the loss of over 100 million dollars to investors allegedly defrauded by the investment plan called the Genesis Fund.
The evidence in the case involved over 1 million pages, as well as surveillance, recorded telephone calls, and numerous witnesses from Central America, South East Asia, China, and the United Kingdom.
Thorough investigation, including extensive travel throughout Asia and Central America locating and interviewing numerous witnesses, and careful analysis, including detailed forensic accounting, Mr. Kaloyanides and his defense team marshaled the facts to demonstrate to the United States Government that their theory against Mr. Kaloyanides’ client was unsupported by the evidence and, in fact, contrary to the facts.
After several years of extensive legal work, Mr. Kaloyanides convinced the United States Department of Justice that a dismissal of his client was the only proper and just resolution in the case.
On April 10, 2012, the Court ordered the case dismissed as to Mr. Kaloyanides’ client.
