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Bolden Superseding Indictment

Bolden Superseding Indictment

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Published by: mary eng on Mar 15, 2013
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03/15/2013

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BENJAMIN B. WAGNERUnited States AttorneyMATTHEW D. SEGALAssistant U.S. Attorney501 I Street, Suite 10-100Sacramento, California 95814Telephone: (916) 554-2708IN THE UNITED STATES DISTRICT COURTFOR THE EASTERN DISTRICT OF CALIFORNIAUNITED STATES OF AMERICA,Plaintiff,v.MICHAEL BOLDEN,CHRISTOPHER JACKSON,VICTOR ALVARADO,ERICA ARCEO, andNICHOLO C. ARCEO,Defendants.CR S.
2:ll-cr-0054
GEBVIOLATION: 18 U.S.C. § 1343 - WireFraud (Twenty-four
Counts);
18U.S.C. § 1341 - Mail Fraud (Three
Counts);
18 U.S.C. §
981(a)(1)(C),
28 U.S.C. § 2461(c) - ForfeitureAllegationSUPERSEDING INDICTMENTCOUNTS ONE THROUGH TWENTY-SEVEN: [18 U.S.C. § 1343 - Wire Fraud]The Grand Jury charges:MICHAEL BOLDEN,CHRISTOPHER JACKSON,VICTOR ALVARADO,ERICA ARCEO, andNICHOLO ARCEO,defendants herein, as follows:1. At all times material herein,a. Defendant MICHAEL BOLDEN was an individual living in
 
Sacramento County
in the
State
and
Eastern District
of
California.Defendant BOLDEN controlled Diversified Management Consultants,
Inc.
("DMC").
DMC
functioned
as an
umbrella organization
for
various"Investment Clubs," including Stargate Management,
Inc.
("Stargate"),
KOA
Weaver Estates,
LP ("KOA
Weaver"),
GenesisInnovations,
Inc. ("Genesis
Innovations"),
Equishare Capital Group,Inc.("Equishare"), Envision Capital Group,
Inc.
("Envision"),
and
Vantage Point Administrative Services,
Inc. ("Vantage
Point").
Stargate
and KOA
Weaver were Defendant BOLDEN's Investment Clubs.Defendant BOLDEN
was the
signor
on
separate
DMC,
Stargate,
and KOA
Weaver accounts
at
Bank
of
America.
b.
Defendant CHRISTOPHER JACKSON
was an
individual living
in
the City
of Elk
Grove
in
Sacramento County
in the
State
and
EasternDistrict
of
California. Defendant JACKSON controlled GenesisInnovations,
a
California Corporation registered
in the
name
of
another person. Genesis Innovations
had a
bank account
at
Bank
of
America
("The
Genesis Innovations
Account").
Defendant CHRISTOPHERJACKSON
and
another person
had
signature authority over thisaccount.c. Defendant VICTOR ALVARADO
was an
individual living
in
Sacramento County
in the
State
and
Eastern District
of
California.Defendant ALVARADO controlled Equishare,
a
California corporation.Defendant ALVARADO
was the
signor
on
Equishare's accounts
at the
Bank
of
America.
d.
Defendant NICHOLO ARCEO
was an
individual living
in
Sacramento County
in the
State
and
Eastern District
of
California.Defendant NICHOLO ARCEO controlled Envision
and
Vantage Point.Envision
and
Vantage Point were both California corporations.
 
Defendant ARCEO maintained a bank account for Vantage Point at Bankof America.e.Defendant ERICA ARCEO was an individual residing inSacramento County in the State and Eastern District of Californiaand the wife of defendant NICHOLO ARCEO. Defendant ERICA ARCEO wasa member of the California Bar and represented herself as the lawyerfor Envision. Defendant ERICA ARCEO, defendant NICHOLO ARCEO, andanother person known to the Grand Jury were all signatories on theEnvision bank account at Wells Fargo Bank.f. Company E was an administrator of self-directed individualretirement accounts
("IRAs")
not alleged to be a schemer in thiscase. A self-directed IRA is one that allows its owner to choosehis or her own investments. A person who wanted to move his or hertax-deferred retirement account money from one investment to anothercould do so through Company E without paying taxes or penalties fora withdrawal of such funds.g. "Victims" were people induced to give their money to DMCInvestment Clubs on the false premise that it would be invested inreal estate.SCHEME TO DEFRAUD
2.
Beginning no later than on or about April 1,
2003,
andcontinuing through on or about June 1,
2009,
in the Eastern Districtof California and elsewhere, defendants MICHAEL BOLDEN, CHRISTOPHERJACKSON, VICTOR ALVARADO, ERICA ARCEO, and NICHOLO ARCEO, and othersknown and unknown to the Grand Jury, devised and intended to devisea material scheme and artifice to defraud Victims and for obtainingmoney and property by means of materially false and fraudulentpretenses,representations and promises, in that they falsely

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