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Former head of investment firm faces charges

by AP posted Nov 5 2012 4:52PM

 

 

RICHMOND, Va. (AP) - The former head of the Craigie Inc. investment firm is due in federal court in Richmond later this month on mail fraud and money laundering charges.

 Allen Meade Ferguson is tentatively scheduled to enter into a plea agreement with federal prosecutors Nov. 14.

 

The 75-year-old Ferguson is accused of listing non-existent assets in order to obtain bank loans. Ferguson had been a longtime philanthropist in Richmond.

 

According to court papers, Ferguson is subject to forfeiture of $5.65 million in assets if convicted of the mail fraud count.

 

Ferguson's attorney, Brandon Santos said Ferguson has cooperated with authorities and brought details of the alleged scheme to their attention. He declined further comment.

 

 

Filed Under :
Topics : Law_Crime
Location : RichmondVirginia
11/05/2012 4:52PM
Former head of investment firm faces charges
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