This is the story of a former investor named Frank Garza, who had to do time in prison for defrauding a number of people, including a football coach named Steve Mariucci.
The court in Oakland came to the conclusion that Garza was guilty during the trial. In addition to this, it condemned him to thirty months in prison and ordered him to pay recoupment in the amount of $2.8 million.
Garza and Associates are owned by Frank Garza, who also serves as the company’s namesake. Garza was discovered for wire fraud as well as using different bank accounts for transactions to buy luxury items using investors’ money. He used to propose minor investment schemes, but he obtained investors for Aerie Networks, a fiber optic company. Garza was ultimately prosecuted for both of these crimes.
Despite the fact that Frank Garza was 40 years old at the time, he made the most of his life.
Garza brought his company all the way to Italy. He had a gentle manner and was well-known for the Italian suits he wore and for assisting others whenever they were in need. In addition to this, he was effective in gathering investors by using his charisma and promising them substantial returns.
On the other hand, things began to turn around after his wife reported him missing to the Richmond police station on her husband’s behalf.
When investors questioned Frank Garza about their share, he would answer with threats, saying things such as, “If you don’t trust me and if you keep questioning me, I will stop investing your money.”
Steve was one of the people who had put money into Frank’s dubious scheme.
Investigations conducted later found that Mr. Muricci had invested approximately $1 million, of which $52,000 was stuck in Aerie Stock; nevertheless, it was later established that Mr. Muricci received his own money back from the company.
Frank Garza and His Cases of Fraud
In the courts of the United States, the attorneys representing Frank Garza had boxes full of fraudulent cases against him.
Before 1999, Frank Garza gave the impression of being a prosperous businessman who assured investors that they would make a profit from their investments. He used to assert that he could provide returns through investments in real estate and online marketing.
On the other hand, he disappeared without a trace and stopped communicating with his investors.
Because of this, his numerous investors have launched around 8 separate legal actions against him.
In the courts of the United States, the attorneys representing Frank Garza had boxes full of fraudulent cases against him.
Before 1999, Frank Garza gave the impression of being a prosperous businessman who assured investors that they would make a profit from their investments. He used to assert that he could provide returns through investments in real estate and online marketing.
On the other hand, he disappeared without a trace and stopped communicating with his investors.
Because of this, his numerous investors have launched around 8 separate legal actions against him.
When A Widow Lost $200,000 to Frank Garza
The following year, in 1990, Frank Garza devised a scheme to install a fiber optic connection in Trieste, Italy, with the intention of transforming the city into a totally digital one. In order to carry out this scheme, he collaborated with Peter Geddis, an executive of the multinational telecommunications corporation Quest Communications.
Geddis and Garza’s idea, on the other hand, was unsuccessful.
Although the court stated that Mr. Garza had lost around one million dollars of his own money, he wrote during the trial that this case does not come under the category of a crime because we can obtain similar products on the market.
Conclusion
When one looks at Frank Garza’s history, it is immediately apparent that he is a con artist. You need to exercise extra caution around con artists like these because you stand a good chance of losing a lot of money to them.
In recent times, a number of different Ponzi schemes have started appearing on the market.
One such example is the worldwide Ponzi scheme known as OmegaPro, which masquerades as a foreign exchange brokerage. Multiple organizations have placed that scheme on their do not use lists.
In a similar vein, there was the instance of QuinReward, which was yet another well-known Ponzi scheme.
It is in your best interest to steer clear of doing business with any company or people that make promises that are too good to be true.
Therefore, you should watch out for Frank Garza.
You can also read : MSP Limited Review: Scam Report 2023
