Georgia Man Gets 5 Years For $20 Million Investment Fraud Scheme

Georgia Man Gets 5 Years For $20M Investment Fraud Scheme

Franklin B. Trell, of Atlanta, has been sentenced to five years in prison after he pled guilty to orchestrating a $20 million investment fraud scheme.

Trell pled guilty to one count of conspiracy for using corporate entities to solicit loans and investments. In addition to five years in prison, he was sentenced to three years of supervised release and restitution of more than $20 million.

Trell Misled Investors with Investment Fraud Scheme

Federal prosecutors said that Trell and a co-conspirator, Cynthia P. Vinson, created medical software and medical imaging companies with an unnamed partner with the agreement that they would both provide capital for the businesses.

Instead, Trell and Vinson misled KeyBank and the investor, who gave around $20 million, making false statements about the businesses with the intention of getting money for personal use.

According to filings, Trell and Vinson made more than $9 million from the investment fraud scheme. The pair used some of the money for personal use, including $1.7 million to settle past lawsuits over alleged fraud.

Co-Conspirator Yet to Be Sentenced

Cynthia P. Vinson is set to be sentenced in Georgia federal court in March 2018. Vinson was indicted with Trell in March 2016 for conspiracy, wire fraud, bank fraud, and money laundering. She pled guilty to one count of conspiracy.

According to prosecutors, Vinson and Trell had worked together on other ventures, including a prior medical software and imaging company. Vinson was hired as a business manager to help with bookkeeping.

Are You a Victim of an Investment Fraud Scheme?

If you lost money as a result of investment fraud or feel that you may be the victim of an investment fraud scheme, contact a qualified investment fraud attorney today.

Call an Investment Fraud Attorney Today

If you are looking for an attorney to review your rights and options, the investment fraud lawyers at Dimond Kaplan & Rothstein, P.A. have recovered more than $100 million from banks and brokerage firms for their wrongful actions.

With offices in Los AngelesNew YorkWest Palm Beach, Miami, and Detroit, our investment fraud attorneys represent clients nationwide and can help you recover your investment  losses.

Contact an investment fraud attorney at Dimond Kaplan & Rothstein, P.A. today to schedule an appointment or consultation to review your rights and options.