FAYETVILLE — Jury selection of four men, including one from Fayetteville, who was indicted in federal court on charges of carrying out a $16 million fraud and money laundering scheme involving bogus investment offerings It started Monday.
John Knock of Fayetteville and Brian Britson of San Marcos, CA. Kevin Griffith from Orem, Utah. Alexander Ituma of Lehi, Utah and Lehi, Utah resident Alexander Ituma, through their company The Brittingham Group, are accused of wire fraud, wire fraud collusion, and fraud related to investment fraud schemes from 2013 to 2021. He has been charged with conspiracy to launder money. The men made false promises of large profits that they could not or would not generate, according to US lawyers.
Knock has also been charged with money laundering.
According to court documents, “Defendants allegedly demanded large sums of money on the promise of protecting their funds, offering them investments with exorbitant returns, when in fact there were no legitimate investments. It is said that it will be done.
US District Judge Timothy L. Brooks is hearing the case. Opening statements are scheduled for today.
If convicted, the defendants face up to 20 years in prison for wire fraud, conspiracy to commit wire fraud and conspiracy to launder money. Knock could face up to 10 years in prison for money laundering charges.
According to court documents, the four were reported to have solicited investments through their company by promising “structured” financial transactions, including standby letters of credit, bank guarantees and other financial instruments they proposed monetizing. . They reportedly ensured the safety of their victims’ principal payments through fraudulent letters, often on third-party letterheads, including those of financial institutions.
According to the indictment, Griffith is a director and owner of Gold Express Holdings Limited, and the defendants instructed the victims to transfer money to accounts controlled by Griffith and others, and Griffith and others to complex banks around the world. The money was sent through an account.
The indictment also reports that Ituma is the owner of Smart Jobs Limited and other Smart Jobs entities, and that the defendants used Smart Jobs to carry out the scheme.
Defendants’ actions cost investors more than $16 million, the indictment reports.
