- 3 - guaranteed 30-percent annual return. In reality, there was no such investment program. In February 1995, in reliance on petitioner’s misrepresentations, the Kieffers sent petitioner funds totaling $9,500 to invest in the fictitious investment program. Petitioner gambled these funds away. In February and May 1996, the Kieffers sent petitioner additional funds totaling $65,000 funds to invest in the fictitious investment program. Petitioner also gambled these funds away. To further his fraudulent scheme and keep the Kieffers at bay, petitioner gave the Kieffers various fabricated documents. One of these documents, a doctored memorandum from the Federal Employees’ Retirement System (FERS) dated March 14, 1995, falsely described petitioner’s position as “Ass’t Executive Director of Operations” at the Department of the Treasury. The document purported to show that petitioner’s account in the Stopgap Investments program had been opened for a total of $100,000, with a guaranteed 30-percent rate of return. Petitioner also gave the Kieffers another purported FERS memorandum, dated April 15, 1996, which indicated that the guaranteed rate of interest had dropped to 10 percent on an investment of $200,000. Finally, in 1998, petitioner gave the Kieffers a version of petitioner’s own statements of retirement benefits, which had been altered to showPage: Previous 1 2 3 4 5 6 7 8 9 10 11 Next
Last modified: May 25, 2011