Federal prosecutors say a Scottsdale securities dealer and three others conspired to illegally convert shares of inventory right into a profit of a whole lot of hundreds of dollars.
Inner Revenue Service officers on Monday released an indictment filed last month towards David Loflin, Heriberto Cruz and Benjamin Bunker.
All three are accused of a number of expenses together with conspiracy, securities fraud, wire fraud and money laundering.
The securities broker has not been indicted but.
In line with the indictment, Loflin, Cruz and Bunker turned the debt of Greenway Design Group, Inc. into unrestricted inventory. With the help of the dealer, they promoted and bought the stock for an inflated profit between October 2014 and Might 2017.
It was not immediately recognized if any of them have attorneys.