LYNDON LYDELL PARRILLA, The Owner of Foreign Currency Exchange Trading Company Was Charged with Defrauding Investors Out of More Than $5 Million

BOSTON—A California man was arrested this morning on federal charges that he defrauded investors out of more than $5 million.

LYNDON LYDELL PARRILLA, 31, of Los Angeles, is charged with wire fraud arising out of the operation of Green Tree Capital. According to the complaint, Parrilla, through Green Tree, solicited more than $5 million from customers, purportedly for the purpose of trading in the foreign currency exchange (FOREX) market. It is alleged that Parrilla traded, at most, a small portion of customer funds in FOREX and instead spent most of it on personal expenses, including more than $950,000 at casinos and approximately $130,000 to purchase a car. Between October 2009 and February 2011, Parrilla also withdrew more than $2.1 million in cash from Green Tree customer accounts. During that same time period, Green Tree continued to e-mail account statements to customers purporting to show trading gains and losses. In many instances, the account statements showed that customers’ accounts had gained value through successful FOREX trading.

Parrilla, who was arrested this morning, will appear in federal court in Los Angeles, this afternoon.

If convicted on these charges, Parrilla faces up to 20 years in prison to be followed by three years of supervised release and a $250,000 fine.

The Commodity Futures Trading Commission, which conducted a parallel civil investigation, referred the case to the United States Attorney’s Office and cooperated with criminal authorities.

U.S. Attorney Carmen M. Ortiz; Richard DesLauriers, Special Agent in Charge of the Federal Bureau of Investigation - Boston Field Division; and William P. Offord, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation - Boston Field Office announced the charges and the arrest today. The Commodity Futures Trading Commission also cooperated with the investigation. The case is being prosecuted by Assistant U.S. Attorneys Sarah E. Walters of Ortiz’s Economic Crimes Unit and Adam J. Bookbinder of her Computer Crimes Unit.

The details contained in the complaint are allegations. The defendant is presumed to be innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

This case was brought in coordination with President Barack Obama’s Financial Fraud Enforcement Task Force. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. The task force is working to improve efforts across the federal executive branch, and with state and local partners, to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, combat discrimination in the lending and financial markets, and recover proceeds for victims of financial crimes. For more information about the task force visit: www.stopfraud.gov.

15 Gang Members Convicted on Conspiracy, Weapons Possession, Firearms Trafficking Charges Case Follows Recent Convictions of 137th Street Crew and East Harlem Narcotics Trafficking Organization

Manhattan District Attorney Cyrus R. Vance, Jr., announced the results of the investigation and prosecution of one of Central Harlem’s most destructive criminal street gangs, referred to as “ONE TWENTY-NINE” or “GOODFELLAS/THE NEW DONS,” which terrorized the neighborhood surrounding West 129th Street between Lenox and Fifth Avenues. Thirteen members of the gang have previously pleaded guilty to importing, possessing, and using firearms over the course of the conspiracy.

The Myth, The Matrix, and The Malpractice: Unpacking the Sophia Stewart Saga

The internet loves a good underdog story, especially one where a lone creator battles Hollywood giants. Few tales have captivated online forums and social media quite like that of Sophia Stewart, the woman who famously sued the creators of The Matrix and The Terminator, claiming they stole her work, "The Third Eye." Her story is a complex tapestry woven with claims of stolen genius, judicial conflicts, and attorney negligence. Let's untangle the legal facts from the compelling narrative and examine the heart of her claims. The Core Allegation: "The Third Eye" and the Blockbusters Sophia Stewart alleged that her copyrighted manuscript, "The Third Eye," conceived in 1981 and finalized in 1983, was the blueprint for two of the most iconic sci-fi franchises: The Terminator (first film 1984) and The Matrix (first film 1999). From her perspective, the similarities were undeniable. Stewart’s supporters often point to broad, impactful themes and ev...

Charlie Kirk Was Right, and Charlie Kirk Was Wrong: The Enduring Legacy of the Civil Rights Act of 1964

Charlie Kirk, a prominent conservative commentator, has argued that the Civil Rights Act of 1964 was unnecessary, contending that the 14th Amendment should have been sufficient to guarantee equal rights. There's a compelling argument to be made for both sides of this statement. Let's break down where Kirk was right and, more importantly, where historical context reveals he was profoundly wrong. Where Charlie Kirk Was "Right" (In Theory) Kirk's theoretical point hinges on the idea that fundamental constitutional principles, if interpreted and enforced correctly, should have negated the need for additional legislation. And, in a perfect world, he would be correct. The 14th Amendment, ratified in 1868, explicitly states that "no State shall... deny to any person within its jurisdiction the equal protection of the laws." The intent was to ensure all citizens, particularly newly freed African Americans, were treated equally under the law. If this ...

New York Paralegal Blog

Search This Blog