Folsom man pleads guilty in $40M investment scam
Corporate Law
The president of a Northern California financial firm has pleaded guilty to wire fraud in an investment scam that bilked more than 300 people out of roughly $40 million.
Federal prosecutors in Sacramento say Anthony Vassallo and his associates collected about $80 million, returning half to clients to lull them into thinking they were getting a good return on their investment.
The 33-year-old Folsom man pleaded guilty Friday. He could face 16 years in prison under a plea agreement when he is sentenced May 3.
His Equity Investment Management and Trading Inc. promised investors risk-free, 36 percent annual returns, but he put their money into high-risk investments and personal luxuries, including a $103,000 Lexus for his wife.
Investigators say he met many of his victims through the Mormon church.
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Can my trucking injury case be filed in Illinois?
If you have been injured in a truck driving accident, you may be wondering whether your worker’s comp case can be filed in Illinois. For an injured truck driver, this is an important question to ask, as the jurisdiction of the case can end up having a big impact on your benefits.
There are three main scenarios in which the Illinois Worker’s Compensation Commission would have jurisdiction over a trucking injury:
-If the accident took place in Illinois, If the employer is principally located in Illinois, or If the contract for hire is in Illinois
This means that a truck driver whose home terminal is in Illinois can make a claim for workers comp benefits in Illinois even if they were injured while on the road in another State. It also means that truck drivers who get hurt while passing through Illinois can file a claim in Illinois, even if their employer is located in another state.
If you have been injured on the road, and you are unsure where and how to file your workers comp claim, call us at (312)-726-5567 to begin your consultation. We can advise you whether Illinois is the right state to file for you. We have handled well over 30,000 claims for injured workers throughout the state of Illinois.