Federal prosecutors have charged nine South Florida residents with operating a $6.6 million stock investment fraud based in Deerfield Beach and accused the alleged ringleader of interfering with witnesses.
The suspects “used high-pressure, strong-armed tactics to intimidate and coerce” investors and threatened to sue them, ruin their credit ratings and seize their money if they did not pay up promptly, according to court records.
They also told clients the investment was a “no brainer” that “can’t lose money.”
An indictment unsealed Friday in federal court charged Thomas A. Guerriero, 39, Diana P. Lovera, 32, and Victor Lovera, 28, all of Deerfield Beach; Edward R. Sachs, 56, ofBoca Raton; Andrew J. Bourdeaux, 28, of Davie; Joseph Loish, 58, and Frank Penaloza, 29, of Pompano Beach; Steven L. Goldstein, 60, of Sunrise; and Steven Sharaf, 63, of Pembroke Pines, with wire and mail fraud conspiracy charges. Most of the defendants also face related charges.