A U.S. attorney announced fraud charges this week for two partners in a San Francisco investment firm for their alleged role in a nearly $1 million fraud scheme involving cryptocurrency.
Japheth Dillman, 44, of San Francisco, and David Mata, 42, of Spokane, Wash., are charged in the scheme with one count each of wire fraud, according to an announcement Wednesday from U.S. Attorney Stephanie M. Hinds and officials from the FBI and IRS.Several Injured During San Francisco Vehicle Theft Suspect's Destructive Effort To Avoid Arrest
Both men are general partners in the Block Bits Fund I, LP, incorporated in Delaware but with a principal location in San Francisco. Prosecutors said the men raised $960,000 from investors by misrepresenting an investment opportunity in 2017, and that investors lost approximately $508,000.Dillman and Mata sent misleading updates and profit reports to investors, prosecutors said, representing that their funds were being stored securely when, in fact, they were invested in risky ventures.
If convicted of the charges, Dillman and Mata face a maximum statutory prison sentence of 20 years. In addition, the charge carries a maximum $250,000 fine and three years of supervised release.© Copyright 2022 CBS Broadcasting Inc. and Bay City News Service. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE: 2,000 tiny homes proposed for San Francisco’s homeless population - The San Francisco ExaminerEXCLUSIVE: Alex Tourk, who ran Project Homeless Connect for former Mayor Gavin Newsom, is banking on his history of building coalitions to help enact his plan for transitional housing. And, he needs your help to get it done.
Read more »
April showers no match for California’s third year of drought - The San Francisco ExaminerWhile April’s rain showers certainly helped bring up Bay Area rainfall totals, they won’t be enough to stave off the state’s third year of drought, and that means round of strict city-level restrictions.
Read more »
San Francisco Issues $11.4 Million in Grants For Small Businesses, NonprofitsTo help small businesses and local nonprofits regain stability after the COVID-19 pandemic, San Francisco kicked off a program providing $11.4 million in grants, city officials announced Tuesday.
Read more »
Man Arrested For Robbery, Carjacking of Elderly Victims In San FranciscoA man who police said assaulted and robbed an elderly man in San Francisco, and later that same day carjacked and partially ran over an elderly woman, has been taken into custody, police said Tuesday.
Read more »
The City’s musicians rally for Ukraine - The San Francisco ExaminerOn May 9, three weeks before world-renowned mezzo-soprano Frederica “Flicka” von Stade turns 77, she will be at the center of a big crowd in Congregation Sherith Israel, doing what she has done all her life: helping others.
Read more »
Suspect arrested in Oakland after elderly people robbed, injured in separate San Francisco incidentsA 36-year-old man was in San Francisco county jail after his arrest earlier this month in the East Bay in connection with a same-day robbery and carjacking of victims in their 70s and 80s, authorit…
Read more »