In an escalation of the federal investigation into alleged fraud at Prime Capital Ventures, FBI agents conducted a second raid earlier this month on the sprawling Queensbury estate of CEO Kris Roglieri per documents filed in bankruptcy court. This time, they seized seven more high-end sports cars from the property.
The fresh haul on March 5th included:
A Lamborghini
A Porsche
Two Ferraris
Three Mercedes Benz vehicles
It comes just over a month after agents initially searched Roglieri's 14-acre mansion on February 2nd, seizing more than a dozen cars, watches, and other luxury items. The new seizures were revealed in a court filing on Wednesday by Roglieri's bankruptcy attorneys, who are attempting to catalog and recover the assets amid his Chapter 11 proceedings initiated on February 15th.
Key Timeline:
Late 2021 to Early 2024: Approximate period Prime Capital Ventures was operating that is under scrutiny
February 2nd: Initial FBI raid on Roglieri's home
February 15th: Roglieri files for Chapter 11 bankruptcy
February 21st & 23rd: FBI obtains new warrants for additional car seizures
March 5th: Second raid to take seven more luxury vehicles
March: Weapons charges against Roglieri announced in bankruptcy filings
(For a more complete timeline visit our Forum post here)
The U.S. Attorney's office alleges any property purchased by Roglieri from 2021-2024 may have been bought with "fraud proceeds" from his lending firm's collapse, which a court-appointed receiver estimates left over $90 million in debts to clients.
While no federal charges have been filed yet, authorities stated they found an assault rifle during the first home raid, leading to state felony weapons charges against Roglieri for possession of an AR15 and high-capacity magazine. Kimberly Humphrey, a Prime Capital executive, is facing a felony drug possession charge after the FBI raided her home, which was purchased by Prime Capital Ventures.
The FBI probe appears to be intensifying its scrutiny of Roglieri's alleged mishandling of client funds and lavish spending at his once-prominent Albany-based lending business.