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Date: 06-12-2019
Case Style:
United States of America v. Douglas P. Simanski
Case Number: 3:18-cr-00020-KRG
Judge: Kim R. Gibson
Court: United States District Court for the Western District of Pennsylvania (Cambria County)
Plaintiff's Attorney: Stephanie L. Haines
Defendant's Attorney: Christopher B. Brown
Description:
Johnstown, PA - Cambria County Investment Advisor Sentenced to 6+ Years in Prison for $4.5M Fraud Scheme
A resident of Cambria County has been sentenced in federal court to six years and six months (78 months) in prison and three years’ supervised release on his conviction of securities fraud, wire fraud, and filing false income tax returns.
United States District Judge Kim R. Gibson imposed the sentence on Douglas P. Simanski, 54, of Lilly, Pa.
According to information presented to the court, between February 2002 and May 2016, Simanski, an investment advisor and broker, devised and executed a scheme to fraudulently obtain approximately $4.5 million from various investors. As part of his scheme, Simanski fabricated "Tax Free Investment" contracts and "fake CDs" which listed guaranteed rates of return and payouts, and used the documents to solicit investors. Simanski used portions of the invested funds to pay "returns" to other investors to make it appear their investments were legitimate. He also used a portion of the funds to purchase personal items and to fund personal home improvement projects, and placed some of the funds into a personal E*Trade account. Also, Simanski filed false income tax returns for 2012, 2013, and 2014.
Assistant United States Attorney Stephanie L. Haines prosecuted this case on behalf of the government.
Mr. Brady commended the Internal Revenue Service Criminal Investigation and the United States Secret Service.
Charges:
15 U.S.C. 78(j)(b) AND 78(ff)(a) 17 C.F.R. 240.10b-5: SECURITIES FRAUD
(1)
18 U.S.C. 1343: WIRE FRAUD
(2)
26 U.S.C. 7206(1): FALSE INCOME TAX RETURN
(3-5)
Outcome: 06/11/2019 29 Letter(s) (Exhibit K) in Support of Defendant re Sentencing as to DOUGLAS SIMANSKI (Brown, Christopher) (Entered: 06/11/2019)
06/11/2019 30 MOTION for Hearing Restitution 18 USC 3664(d)(5) by USA as to DOUGLAS SIMANSKI. (Attachments: # 1 Proposed Order) (Haines, Stephanie) (Entered: 06/11/2019)
06/11/2019 31 ORDER granting 30 Motion for Restitution Hearing as to DOUGLAS SIMANSKI. The Court will hold a final hearing on restitution on 7/12/2019, at 10:00 a.m. Signed by Judge Kim R. Gibson on 6/11/2019. (dlg) (Entered: 06/11/2019)
Plaintiff's Experts:
Defendant's Experts:
Comments: