A few years ago, a young man from northeastern Pennsylvania had some ideas, specifically money-making ideas. And so at the tender age of 24, he moved to the world’s financial hub—Tampa, Fla.—to launch a little hedge fund called TASK Capital Partners, which he then marketed to the financially savvy residents of that state and of neighboring Alabama. To get their attention, Anthony J. Klatch II may have fudged a few things in the prospectus, although he did not do so with any criminal intent. Nor, presumably, did he lose 60% of investor money with any criminal intent, nor did $180,000 of their money wind up in his bank account with criminal intent. Alas, the Stormtroopers over at the FBI and U.S. Attorney’s Office for the Southern District of Alabama weren’t interested in Klatch’s totally innocent motives for defrauding investors of $2.3 million, insisting he plead guilty to a variety of things and then cruelly sending him to jail, where he witnessed the casual violation of human rights on a daily basis, which he then committed to paper in a self-published novel not-so-loosely based upon his own travails.
Well, it looks like he might have a sequel or trilogy on his hands, because in prison he was also allegedly offering classes on investing to his fellow inmates, presumably without criminal intent but undoubtedly in violation of the judge’s order not to give investment advice. Then, upon his release from prison in 2014, Klatch resumed the career so abruptly curtailed (and thereafter proscribed) by his conviction. He started making some friends and future clients over on—we kid you not—“StockTwits.com,” launched a new hedge fund, for which he again allegedly exaggerated a few things, and took a few bucks for himself, and told clients the fund was managed by “Larry Heim,” all presumably without criminal intent. Oh yea, and also a little unrelated identity theft, which he also undoubtedly lacked any criminal intent in allegedly committing. All of which might have been forgiven if he didn’t have such a weakness for sweet wheels.
Klatch bought two BMWs that caught his probation officer's attention….
"At no time during the scheme did Klatch tell his investors ... that he had prior federal criminal convictions for conspiracy, securities fraud, wire fraud and money laundering, or that he was banned by the Commodities Futures Trading Commission, and Security and Exchange Commission from trading in these markets," U.S. Attorney A. Lee Bentley III's office said in a news release.
Tampa ‘genius’ with luxury tastes charged in investment scheme [The Ledger]
Man charged with wire fraud for masterminding investment fraud scam [ABC Action News]
Tampa man on supervised release charged with wire fraud [Business Observer]