Kelowna fraudster gets US jail time
Oct 21, 2013 / 9:00 am
A former Kelowna resident has been sentenced to six years in an American prison for his part in a ponzi scheme that bilked millions of dollars from investors.
Randi Bochinski, 49, of Kelowna and 78-year-old Alan Gilner of Florida, ran a number of investment scams from 2005 to 2008 that solicited funds for bogus ventures in exchange for what they promised would be large returns on their investments within a short period of time.
Gilner was convicted on multiple counts of conspiracy, mail fraud, wire fraud and money laundering earlier this year. Bochinski cut a plea deal with the US Attorney’s Office in May 2013 and pleaded guilty to wire fraud, mail fraud, and money laundering.
The pair would promote the investments in a newsletter distributed around the US and eventually were able to fool 12 investors who gave up millions of dollars.
Once they received the funds, the two would redirect the money and then mislead their clients about what happened to the invested funds and when the principal would be returned.
A third person would then raise funds to repay investors through counterfeit checks to further create the illusion of a legitimate business venture.
Bochinski was arrested in Canada earlier this year.
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