Criminal
Mar. 17, 2012
Stock loans lead to San Diego indictment
The San Diego U.S. attorney’s office announced Thursday an indictment of three men who allegedly operated a complex $51 million stock loan fraud scheme that funded purchases such as a Ferrari, a power boat, a corporate jet and diamond jewelry.
By Gabe Friedman
Daily Journal Staff Writer
The San Diego U.S. attorney's office announced Thursday an indictment of three men who allegedly operated a complex $51 million stock loan fraud scheme that funded purchases such as a Ferrari, a power boat, a corporate jet and diamond jewelry.
James Micelli, 48, of Poway, Douglas Mclain, 38, of Savannah, Georgia, and Jeffrey Spanier, 46, of Del Ray, Florida, allegedly portrayed themselves as the operators of an institutio...
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