NEWARK, N.J. – A California man today admitted conspiring to commit wire and securities fraud in connection with his role in a $50 million internet-enabled fraud scheme, U.S. Attorney Philip R. Sellinger announced.

Allen Giltman, 56, of Irvine, California, pleaded guilty by videoconference before U.S. District Judge John Michael Vazquez to an information charging him with one count of conspiracy to commit wire fraud and one count of conspiracy to commit securities fraud.

According to documents filed in this case and statements made in court:

From 2012 to October 2020, Giltman and others engaged in an internet-based financial fraud scheme, which generally involved the creation of fraudulent websites to solicit funds from investors. At times, the fraudulent websites were designed to closely resemble websites being operated by actual, well-known, and publicly reputable financial institutions; at other times, the fraudulent websites were designed to resemble legitimate-seeming financial institutions that did not exist.

To continue reading the rest of the article, please click on the source link below:

https://www.justice.gov/usao-nj/pr/california-man-admits-role-50-million-wire-and-securities-fraud-scheme