|
|
|
Ohioan to plead guilty to defrauding fellow Amish
Court Watch |
2012/03/14 10:19
|
An Ohio man will plead guilty in federal court to defrauding fellow Amish in 29 states out of nearly $17 million as part of a case the man's church had hoped to shield from publicity and outside involvement, the government said Tuesday.
The attorney for Monroe L. Beachy, 77, owner of A&M Investments in Sugarcreek, filed a recent notice informing federal court of his "intention to plead guilty as charged."
U.S. attorney's spokesman Mike Tobin confirmed the pending guilty plea. Beachy declined to comment Thursday, and his attorney didn't immediately return a message seeking comment.
Beachy is accused in an indictment of promising investors safe securities but moving money to riskier investments. According to the indictment, nearly 2,700 people and entities, including an Amish community loan fund, lost about $16.8 million since 2006.
The investments directed by Beachy "were not the 'safe' investments as reported to his clients or investors," the indictment said.
Beachy, bearded with a shock of white hair, is a member of an Amish church near Sugarcreek.
He is charged with one count of mail fraud, punishable by up to 20 years in prison. Prosecutors stopped short of saying whether Beachy had personally profited or just made bad investments but noted he had made a living for years offering investor services to the Amish.
|
|
|
|
|
|
|
Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet. |
Law Firm Directory
|
|
Legal News RSS Feed
