What happens when a CFE’s friend falls into fraud? This veteran interviewing expert grapples with the duality of a young Jekyll and Hyde who became a fraudster, next an informant and finally back into deep deception.
The stage is the federal courthouse in Asheville, North Carolina. The date is Feb. 24, 2011. The scene is a sentencing hearing before the Honorable Richard L. Vorhees, U.S. district court judge. Before Vorhees stands a well-educated, highly intelligent young man named Alex Klosek, 33. Alex is slated to be sentenced for his part in the illegal diversion of more than $7 million from more than 100 people.
He had been charged with and convicted of one count of conspiracy to commit mail and wire fraud involving Certified Estate Planners (CEP) of Hendersonville, North Carolina, a firm he owned with his partner, Bryan Noel.
Alex, together with Noel, had solicited more than 100 investors to invest large sums of their retirement savings with CEP by promising a conservative investment strategy. Then without their clients’ knowledge they diverted several million dollars to Noel’s start-up lumber composite company. Alex and Noel continually misrepresented the value of the clients’ assets on the quarterly statements so they wouldn’t know the true diminished value of their assets.
For full access to story, members may
sign in here.
Not a
member? Click here to Join Now.
Or Click here to sign up for a FREE
TRIAL.