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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- GreenTech holds grand opening of neighborhood electric vehicle plant
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- Turner Grain’s transition will help consolidate lawsuits alleging breach of contract
- Granddaughter of Barq's Root Beer founder dies at 90
- Mississippi Film Studios signs contract with New Orleans company
- MDOT cutting more than 40 jobs in Right-of-Way Division
- David Duval, former British Open winner, joins Sanderson Farms field
- Alcorn president launches new customer service task force
- Mars Food expanding Delta plant; investing $31M and adding jobs
- Board authorizes sale of company that owns Silver Slipper Casino