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Business and Economics

Cantrell Jr. Pleads Guilty To Financial Fraud

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December 19, 2014 — A Porter County man agreed in federal court in Hammond to pay back victims — as part of his guilty plea to swindling investors from their life savings and retirement accounts.

William Cantrell Jr.’s attorney filed a plea agreement to mail fraud and interstate stalking. The deal with the U-S Attorney’s office calls for a minimum prison sentence and similar charges in San Diego are to be dismissed.

Cantrell is accused of creating a fake investment fund that from January 2010 to November 2013 raised more than one-million dollars from various investors.  The Valparaiso-based Dragon Fund LP was created in 2007 and, according to the Indiana secretary of state, was not registered or a legitimate hedge fund.

Prosecutors said William Cantrell Jr. sent his investors false statements while he was transferring more than 831-thousand dollars to his personal bank account.

 

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