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Shreveport man indicted, accused of bilking investors and banks - KATC.com | Continuous News Coverage | Acadiana-Lafayette

Shreveport man indicted, accused of bilking investors and banks out of $96 million

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Lafayette Federal Courthouse Lafayette Federal Courthouse

A federal grand jury has indicted a Shreveport businessman in connection with the theft by fraud of more than $96 million from investors and financial institutions.

David D. deBerardinis, 56, of Shreveport, was charged with four counts of wire fraud and one count of attempted bank fraud.

According to the indictment, between 2008 and 2016, deBerardinis falsely represented himself through the use of fake documents, identities, business transactions and other false information to obtain more than $96 million from investors and lending institutions. He operated numerous business entities and represented himself as part of the petroleum industry involved in the sale, trade and transport of fuel.

The indictment alleges that deBerardinis created fraudulent documents, including fake bank statements, fake checks, fuel trade agreements, promissory notes, tolling agreement letters, news articles, in-line production tickets and other fake documents to misrepresent his business activities to investors.  

He even disguised himself as an Orthodox Jewish businessman at one point while trying to obtain investor funds from a New York-based private equity group after hiring a professional makeup artist, the indictment alleges.  He also falsely claimed to have obtained an international shippers’ license, which required vetting by the FBI and Department of Homeland Security, the indictment alleges. 

Through these false statements and omissions to investors, deBerardinis obtained millions of dollars from investors in Shreveport, Louisiana and elsewhere, the indictment alleges.

If convicted, deBerardinis faces 20 years in prison for the wire fraud counts and 30 years in prison for the attempted bank fraud count. He also faces a $1 million fine, restitution, forfeiture, and five years of supervised release for each count.

If you'd like to read the indictment for yourself, scroll down. 

The FBI, U.S. Secret Service and the Caddo Parish Sheriff’s Office investigated the case. Assistant U.S. Attorneys Cytheria D. Jernigan, Christopher J. Stokes, Joseph A. Magliolo and Seth D. Reeg are prosecuting the case.  The investigation and prosecution of this case has been a cooperative endeavor between the U.S. Attorney’s Offices in Shreveport and Dallas.

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