Securities
Jan. 8, 2010
Fraud Schemes Abounded In State in 2009
Federal regulators in California encountered a virtual hurricane of investment fraud schemes in 2009. They ripped more than $400 million from investors in the state, often from elderly citizens' retirement accounts.
Daily Journal Staff Writer
LOS ANGELES - On his trip from a downtown Los Angeles holding cell to a federal courtroom in Riverside last fall, Richard Harkless may have had little notion he would receive what is likely the longest sentence for a white collar crime ever fashioned in the Central District of California: 100 years in prison.
A jury had convicted Harkless, 65, of defrauding hundreds of elderly investo...
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