lawyer convicted of conspiracy to commit electronic fraud and money laundering | USAO-CO


DENVER – Former California lawyer David Kaplan, of Las Vegas, was convicted on August 3 by United States District Court judge Christine M. Arguello of conspiracy to commit electronic fraud and money laundering. ‘silver.

According to information in court documents, between September 2014 and October 2015, Kaplan and two others worked to defraud investors by depriving them of money and property through materially false and fraudulent statements. The co-conspirators got around $ 12 million from investors claiming they could invest risk-free in offshore investments with an occasional return on investment of 10% per month. As part of the program, Kaplan established and controlled business entities, including several charities, to deposit and transfer investor funds and pay for personal expenses on their own. Using his position and attorney trust accounts, Kaplan was able to gain investor confidence and pretend investor money was held in trust. Kaplan made payments to investors to put them to sleep and encourage the recruitment of additional investors.

“Of course, lawyers are not above the law, and this conviction demonstrates that we can, and will, prosecute anyone who breaks the law to the fullest extent possible,” Acting US attorney Matt said. Kirsch. “We are proud of the combined efforts of all who have helped ensure that Mr. Kaplan cannot victimize other investors.”

Kaplan, who embezzled more than $ 2 million for his personal gain, pleaded guilty on April 7, 2021 and was sentenced to 36 months in prison yesterday. Kaplan never disclosed to investors the precise amount of the financial benefit he was to receive, including the terms of his remuneration, expenses or fees, or the identity of the “Trustee”, despite investors’ requests. for that information.

“Investment programs that sound too good to be true should be a warning to investors to stay away,” said Andy Tsui, special agent in charge of IRS criminal investigations. “This conviction shows that the IRS-CI will use all of its investigative tools to stop the criminal behavior of those who prey on investors for their own personal financial gain.”

Mr. Kaplan capitalized on his trusted position as a lawyer to create an elaborate investment program, touting inflated returns and even leveraging the support of several charities, all of which turned out to be a mirage. that cost investors millions, “said FBI Denver Special Agent in Charge Michael. Schneider.” Today’s sentence sends the message that the FBI will find criminals who greedily prey on and corrupt investors financial markets, no matter how smart they think they are. We thank the IRS-Criminal Investigation and the United States Attorney’s Office for their diligent work on this case. ”

This matter was investigated by the Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation. This case was continued by Assistant United States Attorney Tim Neff.

File number: 19-c-00237

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