Pennsylvania Attorney Sentenced for Role in $2.7 Million Ponzi Scheme

Flynn: All Americans need to ‘step up’ and ‘get to the bottom of election malpractices’

Lt. Gen. Michael Flynn, former United States National Security Advisor, spoke about the 2020 election results in his first interview since Tuesday’s election. Flynn cautioned listeners in...

Armed Member of Canada’s Military Crashed Gate at Trudeau’s Home

An armed member of the Canadian military crashed a truck through a gate on the grounds where Prime Minister Justin Trudeau lives in Ottawa...

Attorney General William P. Barr Announces Updates on Operation Legend at Press Conference in Chicago

On September 9th, at a press conference in Chicago, Attorney General William P. Barr announced updates to Operation Legend. Since the operation’s launch, there have...

United States Unseals Superseding Indictment Charging Nationwide Money Laundering Network

The Justice Department today announced the unsealing of a superseding indictment charging six individuals with participating in a conspiracy to launder millions of dollars...

Kanye West Rips Biden Over ‘You Ain’t Black’: Democrats Are Threatening Black People into Their Party

Rapper and fashion mogul Kanye West slammed Joe Biden and the Democratic Party establishment in an eye-popping interview with Forbes in which he held...

An Allentown, Pennsylvania, attorney was sentenced today to 78 months in prison followed by three years of supervised release for his role in a $2.7 million investment fraud scheme that victimized his law clients.

Acting Assistant Attorney General Brian Rabbitt of the Justice Department’s Criminal Division, U.S. Attorney William M. McSwain of the Eastern District of Pennsylvania and Special Agent in Charge Michael J. Driscoll of the FBI’s Philadelphia Field Office made the announcement.

Todd H. Lahr, 60, of Nazareth, Pennsylvania, was sentenced by U.S. District Judge Edward G. Smith of the Eastern District of Pennsylvania who also ordered Lahr to pay $2,106,918.60 in restitution and $273,091 in forfeiture.

Lahr, an attorney licensed to practice law in Pennsylvania and the District of Columbia, and with offices in Allentown, pleaded guilty in April 2020 to one count of conspiracy to commit securities fraud and wire fraud, two counts of securities fraud, and four counts of wire fraud.

According to Lahr’s admissions at the plea hearing and sentencing, from 2012 through 2019, Lahr conspired with others to perpetrate a securities fraud scheme targeting his own law clients, which involved the fraudulent sale of the securities of two entities, THL Holdings LLC and Ferran Global Holdings Inc.

Lahr initially sold THL Holdings investments, promising that the money raised would be used to pursue specific business opportunities, including mining operations in Papua New Guinea and the acquisition of the shares of a penny stock.  In reality, the money was used for Lahr’s personal expenses and to make Ponzi scheme payments to prior investors, among other things. Once Lahr realized that he was running out of investor money to pay the THL Holdings investors, he sought investors for a second entity, Ferran.  He told the Ferran investors that their money would be used for business opportunities, including even more mining in Papua New Guinea and residential property leases in Spain and England—but, in fact, these funds were used to repay the prior THL Holdings investors and, again, for Lahr’s personal expenses to fund his lifestyle.  Among these personal expenses were his home mortgage, his child’s school tuition, utility bills, and other personal debt. Total investor losses are estimated to be over $2.7 million.

Even after he was caught, Lahr continued his deception by lying in sworn testimony before the U.S. Securities and Exchange Commission (SEC). In this testimony, Lahr denied writing checks to his personal accounts from the THL Holdings accounts, when, in fact, he had written at least 25 separate checks to himself over a three-year period.

Source: Justice.gov

Hot Topics

Hollywood Producer Who Was Part Of Jeffrey Epstein’s “Lolita Express Circle” Dead – Falls Off 27th Floor Of Building

I’m sure this is just a coincidence, right? Just prior to the arrest of Ghislaine Maxwell this week, Hollywood producer and long time friend...

Federal Judge Rejects Additional Discovery in Case Concerning Hillary Clinton’s Emails

A federal judge in Washington, D.C. on Friday denied a request for additional discovery in a lawsuit concerning Hillary Clinton's use of a private...

RedRacer Video

Watch Tito Ortiz's Videos

Related Articles

Over 432,000 Votes Removed From Trump in Pennsylvania, Data Scientists Say

Pennsylvania election data shows that over 432,000 votes were removed from President Donald Trump during the November election, data scientists say. According to an analysis by...

Dem Rep. ends congressional prayer with ‘Amen and awomen’

Rep. Emanuel Cleaver, D-MO, opened the 117th Congress with a prayer that ended with an attempt to bring in more gender-inclusive language. The Democratic lawmaker,...

Pentagon orders USS Nimitz to stay in Persian Gulf after Iranian threats against Trump

The Pentagon on Sunday evening order the USS Nimitz to remain in the Persian Gulf, reversing a planned redeployment, after Iran made threats against...