call us toll free:

Monday - Friday from 9:00 am to 5:00 pm

No Where To Hide – Eric Bartoli Arrested In Peru Sentenced To 20 Years!

Eric V. Bartoli, who was indicted in 2003 on a 10-count indictment and has been a fugitive for more than a decade, has been arrested in Peru. Bartoli was accused of operation a large-scale ponzi scheme from 1995 through 1999. 
Bartoli allegedly created and operated a company by the name of Cyprus Funds, Inc., which was based in Doylestown, Ohio and incorporated in Central America and Belize.  Bartoli and his co-conspirators allegedly operated Cyprus to sell certificates of deposit and unregistered mutual funds.  Cyprus raised approximately $65 million from an estimated 800 investors in Latin America and the United States.  Some of Cyprus’s victims include retirees, according to court records.
Bartoli was sued in 1999 by the Securities and Exchange Commission on charges involving the Cyprus Funds, Inc.  Bartoli did not appear at a scheduled hearing regarding the SEC charges.  He was subsequently found in contempt of court and a civil arrest warrant was issued.  Bartoli had fled Ohio and was arrested in New Hampshire.  Bartoli was not detained at that time and became a fugitive.

A 10-count federal indictment was filed against Bartoli in the U.S. District Court for the Northern District of Ohio in October 2003.  He was charged with conspiracy, securities fraud, sale of unregistered securities, wire fraud, mail fraud, money laundering, and attempted income tax evasion.
Bartoli has been featured on shows including American Greed and Life on the Run and on a wanted poster by the FBI.

Bartoli was arrested in Peru in 2013 after spending more than 10 years as a fugitive, and on Wednesday was handed a 20-year sentence and a $42.5 million restitution order, according to the U.S. Department of Justice

An Ohio federal judge on November 9, 2016 handed down a 20-year prison sentence for Bartoli who pled guilty earlier this year to charges stemming from this $65 million Ponzi scheme, after spending more than a decade on the run from authorities.

The case is USA v. Bartoli, case number 5:03-cr-00387, in the U.S. District Court for the Northern District of Ohio.

Have a Criminal Tax Problem?
Don't Hide The Your Head In The Sand
By Running Away To A Foreign Country
Contact the Tax Lawyers at
Marini & Associates, P.A.
 for a FREE Tax Consultation Contact US at 
or Toll Free at 888-8TaxAid (888 882-9243).

Read more at: Tax Times blog

Comments are closed.