Cynthia P. Vinson and Franklin B. Trell, of Meriwether County, Allegedly Orchestrated a $20 Million Fraud Scheme
Cynthia P. Vinson, 66, of Gay and Franklin B. Trell, 71, of Atlanta, allegedly orchestrated a $20 million fraud scheme, according to Reports from the U.S. Attorney’s Office (Northern District of Georgia).
Trell has reportedly ordered to pay restitution of $20,100,408.25 after being sentenced for conspiracy to commit wire fraud, bank fraud and money laundering, the Reports note.
Trell, for over seven years, allegedly used many corporate entities, intricate financial arrangements, tampered financial statements and false statements to defraud multiple financial institutions – including one of Trell’s largest investors – out of approximately $20 million, the Reports state.
Tell and Vinson Allegedly Secured Multi-million Dollar Loans via False Statements
Trell and Vinson, from 2006-2013, and on behalf of several corporate entities they created, allegedly secured multi-million dollar loans by submitting false statements and invoices to financial institutions regarding how the money would be spent, the Reports note.
During the aforementioned period, Trell and Vinson also allegedly made repeated lies to their biggest investor for years by falsely representing that Trell was putting up to half of the working capital into different business entities, the most of which were in the medical imaging business, according to the Reports.
Securities Lawyers Investigating
The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of investment-related fraud may contact attorney Alan Rosca, for a free no-obligation evaluation of their recovery options, at 888-998-0530 or via e-mail at firstname.lastname@example.org, or through the contact form on this webpage.