Hollywood Drama Leads to Wire Fraud Charges

Famous Director’s Former Accuser Now Faces Wire Fraud Charges

wire fraud chargesThe man who accused X-Men director Bryan Singer of sexual abuse when he was a teenager, and who later dropped the personal injury lawsuit, has now been charged with securities and wire fraud after investigators found that he was running a fraudulent investment scheme.

On Tuesday, December 31st, a grand jury in Charlotte, NC indicted Michael Francis Egan III, 32 years old, for wire fraud and securities fraud in the business operation which ran from 2007 to 2012.

Egan allegedly falsely convinced investors that he was a close business associate of the chief executive of a major bank, and that he owned stakes in famous Las Vegas hotels. He told investors that if they gave him money, he would be able to invest it in major purchases with great financial returns, like Halloween-themed Vegas attractions, land development, and television shows. However, Egan instead used the money on personal expenses like pet care, rent, and a car lease.

In order to convince potential investors that Egan’s fraudulent business was a good investment, the FBI claims that he forged brokerage account statements to reflect fraudulent balances. One instance cited in Tuesday’s indictment stated that Egan furnished a “fraudulent, forged and altered brokerage account statement” claiming that he had more than $7 million in assets.

The securities and wire fraud charges could land Egan in federal prison for as much as 20 years. He also faces up to $5 million in fines.

Federal Wire Fraud Charges and Defense

The law broadly defines wire fraud as devising or intending to devise a scheme to defraud others of money or property under false or fraudulent pretenses, representations or promises by means of electronic communications, or “wires.” Because they typically involve interstate matters, most wire fraud cases are considered federal crimes with convictions carrying heavy fines, prison sentences of up to 20 years, or both.

Our federal criminal defense lawyers handle wire fraud cases involving:

  • Fraudulent insurance claims
  • Bond issuances and investment schemes
  • Falsifying loan applications
  • Check fraud schemes
  • Bribes or kickbacks
  • False advertising or misrepresentation in sales transactions

Federal bank fraud cases can also center on the wiring of money or information used to deceive individuals, businesses, or customers.

Transferring money to an offshore or international bank may be legitimate and legal transactions; however, transferring money to an offshore or international bank account to hide a crime can lead to serious federal criminal charges. At the Strom Law Firm, LLC, our criminal defense lawyers have handled wire fraud and other cases in Federal and State courts.

The Strom Law Firm Defends Wire Fraud and Other Federal Charges

The Strom Law Firm, LLC has the experience that you need to defend your wire fraud charge. Our experience and familiarity with prosecutorial techniques provide the basis for experienced and effective legal representation. We will fight hard to have your charges reduced, or even dismissed. Contact us today for a free consultation to discuss the facts of your case as well the most effective way to proceed with your case. 803.252.4800

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