Folsom man pleads guilty in $40M investment scam
Corporate Law
The president of a Northern California financial firm has pleaded guilty to wire fraud in an investment scam that bilked more than 300 people out of roughly $40 million.
Federal prosecutors in Sacramento say Anthony Vassallo and his associates collected about $80 million, returning half to clients to lull them into thinking they were getting a good return on their investment.
The 33-year-old Folsom man pleaded guilty Friday. He could face 16 years in prison under a plea agreement when he is sentenced May 3.
His Equity Investment Management and Trading Inc. promised investors risk-free, 36 percent annual returns, but he put their money into high-risk investments and personal luxuries, including a $103,000 Lexus for his wife.
Investigators say he met many of his victims through the Mormon church.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.