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Date: 05-22-2017

Case Style:

United States of America v. Angelina Lazar

Federal Courthouse - Alexandria, Virginia

Case Number: 1:09-cr-175

Judge: Liam O’Grady

Court: United States District Court for the Eastern District of Virginia

Plaintiff's Attorney: Uzo Asonye and Stephen Learned

Defendant's Attorney: Whitney E.C. Minter - FPD

Description: Alexandria, VA - Former CEO Pleads Guilty to Investment Fraud Scheme

A former chief executive officer of an investment company pleaded guilty to her role in an investment fraud scheme involving foreign exchange currency.

According to the statement of facts filed with the plea agreement, Angelina Lazar, 54, a Canadian citizen from Windsor, Ontario, was the Chairman and CEO of Charismatic Exchange, Inc., an investment firm in Las Vegas. From May 2005 through February 2007, Lazar solicited individuals to invest money in foreign exchange currency funds she managed. As part of the scheme, Lazar guaranteed investors a monthly return of 20 percent or more. However, Lazar falsely represented her experience, her success rate, how funds would be invested, and how funds were ultimately spent. For example, Lazar told investors her company used special software program to facilitate and enhance her ability to successfully trade foreign currencies. In truth, Lazar did not possess the software nor did her company ever purchase it. Likewise, Lazar showed investors trading reports that purportedly validated executed foreign currency trades resulting in significant profits. In fact, the trading reports represented only simulated currency trades and no money was actually invested. As a result of her fraudulent conduct, victim investors suffered at least $20,000 in losses.

As part of her plea agreement, Lazar will be immediately deported from the United States to Canada.


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