Monday, September 14, 2009

Update: Silicon Valley Venture Capitalist Sentenced In Securities Fraud Case

William "Boots" Del Biaggio III, 42, of Menlo Park, California, was sentenced to more than 8 years in prison for defrauding investors out of millions, in part, to purchase a professional hockey team franchise. Last February, Del Biaggio pleaded guilty to one charge of forging financial documents to obtain $110 million in loans from several banks and wealthy individuals. Prosecutors alleged that he used the money to purchase a controlling interest in the Nashville Predators. Del Biaggio is quoted as telling the court, "I'm incredibly sorry. I can't begin to express how sad and ashamed I am...I'm losing sleep, and I'm scared and I truly understand what the victims are going through."

Read FraudTalk's earlier posts on this story here and here.

Read the story here and here.

Boo hoo hoo...

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