53-year-old Mark Georgantas of Las Vegas was arrested this week on two counts of theft and two counts of securities fraud. The alleged fraud was committed between July 2013 and March 2014.
According to the indictment, Georgantas misrepresented to victims that he had a “guaranteed system” of gambling and could promise profits from their investments.
One victim paid Georgantas more than $300,000 as a result of these misrepresentations, while another paid him more than $50,000. Georgantas was indicted on January 7, 2016, and was arrested by the Office of the Nevada Attorney General at the Hard Rock casino.
Georgantas is scheduled to appear before the Eighth Judicial District Court on April 4, 2016. An indictment is merely a charging document; every defendant is presumed innocent until and unless proven guilty in a court of law.
This case is being prosecuted by the Fraud Unit of the Office of the Nevada Attorney General.
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