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In addition to the prison term, United States District Judge Troy L. Nunley ordered Wannakuwatte to forfeit multiple properties, vehicles, business interests, and bank accounts to be used to provide restitution to victims. This information or any portion thereof may not be copied or disseminated in any form or by any means or downloaded or stored in an electronic database or retrieval system without the express written consent of the American Bar Association. And he did a have contract with the VA, but it was only for up to $25,000 a year. This case is the product of an investigation by the Federal Bureau of Investigation, the Internal Revenue Service, Criminal Investigation, and the Federal Deposit Insurance Corporation, Office of Inspector General, Office of Investigations. American Greed: Exclusive Clip - "Deceiving His Own Mother" - CNBC 3582(c); see Dillon v. United States, 560 U.S. 817, 824-25 (2010). Jordan Maglich is a securities attorney with Wiand Guerra King P.L. 1B1.13. According to the Bee, Wannakuwatte, 63, had been under investigation by several federal agencies, including Veterans Affairs, the FBI, the Internal Revenue Service and the Federal Deposit. Horacio Ortega-Martinez, 36, a citizen of Mexico residing in Bakersfield, was sentenced today to 18 months in prison for possessing roosters for the purpose of using them in an animal A Bakersfield man was sentenced today to an additional month in prison to be followed by 11 months home detention and 36 months of supervised release for knowingly aiming the Federal agent pleaded guilty Wednesday to one count of making a false statement in connection with a sexual relationship she had with a victim witness in a separate federal criminal Sacramento Main Office Therefore, the Court need not address whether Defendant is a danger to the community or the 18 U.S.C. 3582(c)(1)(A) (requiring a consideration of the 3553(a) factors before granting compassionate release). The purpose of these calls was to convince investors that he really did have a significant business relationship with the VA and that their money would be safe with him. Casetext, Inc. and Casetext are not a law firm and do not provide legal advice. International Manufacturing Group, Inc. Company Profile | West To create the appearance of a successful business, Wannakuwatte is accused of doctoring actual invoices with significant markups. 3582(c)(1)(A) and U.S.S.G. Share sensitive information only on official, secure websites. Wannakuwattes companies, IMG and Relyaid, were involved in the international manufacture, shipment, and distribution of latex gloves. In his highprofile pursuit for prestige and financial gain, Wannakuwatte had no regard for public trust and the financial stability of his victims, said Special Agent in Charge Monica M. Miller of the Sacramento Division of the Federal Bureau of Investigation. SACRAMENTO, Calif. Deepal Wannakuwatte, 63, of Sacramento, was charged today in a three-count indictment returned today with bank fraud and making false statements to a financial institution, United States Attorney Benjamin B. Wagner announced. While tracing its origin back at least 80 years, the past decade has been unprecedented in terms of the number and severity of Ponzi schemes. Wannakuwatte used the money from investors to cover these losses and pad his own pockets. Because more than 30 days have elapsed since April 23, 2020, Defendant has met the exhaustion requirement. For example, one two-month period resulted in $8,000 in legitimate revenue and $1.7 million in new investments.