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Description: Tucson, Arizona criminal law lawyer represented Defendant charged with securities and wire fraud.
Michael and Betsy Feinberg operated Catharon Software Corporation as husband and wife. The Feinbergs claimed they had produced revolutionary software called VDelta that would generate enormous returns for investors and philanthropists. For almost 15 years, the Feinbergs lured investors with false promises about the software’s completion, release date, and capabilities. Their victims included friends and associates recruited through various community organizations in Sedona, Arizona, where the Feinbergs resided at the time. In addition to paying themselves salaries, the Feinbergs used investor money for a wide variety of personal expenses, including their home mortgage.
A restitution hearing to address the approximately $5 million in victim losses is scheduled for December 13, 2022.
The Federal Bureau of Investigation conducted the investigation in this case with assistance from the Arizona Corporation Commission. The Financial Crimes and Public Corruption Section of the U.S. Attorney’s Office, District of Arizona, Tucson, is handling the prosecution.
18:1349 Conspiracy to Commit Wire Fraud; 18:981 and 982 Forfeiture Allegation
(1)
18:371 Conspiracy to Commit Securities Fraud
(4)
Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5 (Securities Fraud)
(5)
Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5 (Securities Fraud)
(8)
Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5 (Securities Fraud)
(10)
Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5 (Securities Fraud)
(13)
Title 15, United States Code, Sections 78j(b) and 78ff, and Title 17, Code of Federal Regulations, Section 240.10b-5 (Securities Fraud)
(15)
Outcome: Defendants were both sentenced to 60 months in prison, followed by three years of supervised release.
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Defendant's Experts:
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