Investment Company Owner Charged With Fraud
Connie S. Farris, the owner/operator of Global Express Capital Corporation was indicted today by the Federal Grand Jury on multiple counts of Mail Fraud for inducing people to invest in deeds of trust that reportedly paid high interest rates but which did not exist, announced Steven W. Myhre, Acting United States Attorney for the District of Nevada.
Connie S. Farris, age 62, is charged with 61 counts of Mail Fraud. A warrant was issued for her arrest. She faces up to 20 years in prison and a $250,000 fine on each count.
According to the Indictment, Connie S. Farris owned several companies which were in the business of loaning money to real estate developers for the purchase of undeveloped land. Although separate entities, these companies, Global Express Capital Corporation, Global Express Capital Mortgage Corporation, Global Express Securities, Inc., and Global Express Capital Real Estate Investment Fund I, LLC, operated as one business and are hereafter referred to as “Global Express.”
Global Express obtained the money it loaned to the developers from private investors who heard about the investment opportunities by word of mouth or through advertisements in the Las Vegas Review Journal. The advertisements usually stated that Global Express was seeking investors for first deeds of trust and that they would receive interest at the rate of 14% per year. Read more at usdoj.gov.
Contact our
Missouri Wills & Trusts Lawyer Now!
|
