Grand jury indicts man accused of bilking investors
Published: March 1,2013
BATON ROUGE, La. — A federal grand jury has indicted a Louisiana man on 18 counts of mail fraud for allegedly executing a $13-million investment fraud scheme.
The Advocate reports U.S. Attorney Donald J. Cazayoux Jr. announced yesterday that 57-year-old James R. Holdman, of Baker, La., operated a hedge fund called Greenwing Capital Management, LLC, and solicited and received millions of dollars in investment funds from the victim investors.
The indictment says Holdman operated from Baton Rouge and Zachary, La. He is accused of defrauding four investors in Mississippi, one in Florida and one in Baton Rouge.
The indictment alleges that Holdman falsely represented to the victims that their investments were earning positive rates of return when, in fact, he had lost more than 98 percent of their funds.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Analyst: KiOR Columbus plant may end up sold as scrap
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Ex-MDEQ leader Fisher joins Butler Snow
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- Federal appeals court: State's abortion law is unconstitutional
- Can Metrocenter rise from the ashes? Again
- Gulf oil rig explosion kills one worker, injures three
- Hunting deer? There's an app for that