FBI: Investment Fraud Scheme Uncovered, Members of Military and Dependents Victimized

The FBI web site offers a piece on an investment fraud scheme that victimized military members and their families:

They are our nation’s heroes—often risking their lives abroad to protect us at home. Which makes what one Virginia con man did all the more despicable…defrauding military personnel and their dependents in an investment fraud scheme.

But one of his victims came forward and filed a complaint. And after a joint investigation conducted by the Richmond offices of the FBI and the U.S. Postal Inspection Service (USPIS)—under the auspices of the Virginia Financial and Securities Fraud Task Force—Vernon Matthews was charged in the scheme, pled guilty, and was recently sentenced to a federal prison term.

Matthews operated a company called First Capital Group (FCG), located in Virginia Beach. He had a license to sell insurance, not to give investment advice or handle securities—but that didn’t stop him from doing so.

You can read the rest of the piece via the below link:

http://www.fbi.gov/news/stories/2014/april/investment-fraud-scheme-uncovered/investment-fraud-scheme-uncovered?utm_campaign=email-Daily&utm_medium=email&utm_source=fbi-top-stories&utm_content=317251