Berg this year was sentenced in federal court in San antonio to 18 years after pleading guilty to wire fraud, money washing and personal bankruptcy fraud. Prosecutors stated at that time it had become the biggest fraud plan they’d prosecuted in Western Washington.
Berg used investment funds from his company, Meridian Group, to purchase two Lear jets, several yachts and million-dollar condos and houses in Washington condition and California during the period of ten years, federal prosecutors have stated.
Berg was arrested this year in La.
They stated that between 2001 and 2009, Berg used greater than $100 million in funds from over 800 investors for their own benefit and also to keep his investment fraud plan going. He used investor money to repay the loans of earlier investors to be able to continue his plan to swindle, court public records show.
His defense attorneys stated in the court papers that Berg desired to resolve this situation and take full responsibility for his actions.
San antonio – A Washington condition man who bilked investors out in excess of $100 million inside a Ponzi plan has steered clear of from the federal prison in central California, based on the U.S. Marshals Service.
Prison officials stated Ernest Darren Berg, 55, is discovered missing Wednesday from the minimum-security work camp alongside a penitentiary in Atwater, California, The San antonio Occasions reported.
FBI agents stated as he was sentenced that Berg required benefit of hopeful investors, many seniors, which many endured emotional and financial discomfort due to his fraud.