Josh Verne faces 26 fraud charges, plus witness intimidation and retaliation. He was arrested in Fort Lauderdale, Fla. after moving there following confrontations with his unpaid investors and staff
Josh Verne on vacation in London, fall 2023. The former Gladwyne resident and furniture-company heir is accused by the SEC of raising $30 million, mostly from longtime friends in the Montgomery County Jewish community, for a business that turned out to be a fraud. He later moved to Florida and began promoting another business. On Aug.
Verne was arrested Friday in Fort Lauderdale, where he had moved and began promoting other businesses after some of hisinvestors demanded their money back in 2020. He is due for arraignment in Philadelphia federal court next week. Verne and a lawyer representing him on separate civil fraud charges didn’t immediately return calls seeking comment.
Joseph Kohn, the Philadelphia lawyer Verne hired to defend the SEC charges, said earlier this year that investors’ losses were due to “market factors beyond our control.” In a brief phone interview last winter, Kohn said he looked forward to telling his side of the story at the appropriate time. Prosecutors said Friday they are seeking $14.2 million from Verne that could be traced to his alleged crimes. Sam Katz, a Philadelphia investment banker turned filmmaker and past Republican mayoral candidate, said he and other investors were afraid they would see little if any of the money they trusted to Verne and his companies.
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