Breaking: Kris Roglieri Sentenced in $55m Wire Fraud Case
- Shane Mahabir
- 59 minutes ago
- 2 min read
One of the most closely watched fraud cases to emerge from the commercial financing ecosystem in recent years reached its peak as sentencing was handed down today to the head of Prime Capital Ventures.
Kris Roglieri, the former CEO of Prime Capital Ventures, Prime Capital Lending, NACLB, Finance Marketing Group, Commercial Capital Training Group, brand FUPME, and IG account teamloansharks, was sentenced in federal court after pleading guilty to conspiracy to commit wire fraud tied to a scheme involving advance fees for commercial loans that were never funded.
Judge Mae A. D’Agostino sentenced Roglieri to 97 months in prison, the low end of her approved sentencing guidelines, agreeing with the prosecution's range request. That will be followed by 3 years of supervised release with special conditions, including not returning to commercial finance (time tbd). Mr Roglieri does have the right to appeal a sentence of over 70 months.
He already agreed to pay a $55m + judgment plus forfeited many super cars, high-end watches, and jewelry as well as a $3.7m house in Virginia.
The judge heard lengthy arguments from both sides before delving into the details of the case. She did not believe the defense's position that Barone and Reign Capital were mostly at fault for duping Roglieri into believing he would be getting millions in a line of credit that he could then lend to the victims.
I will have more details to follow about what happened in the courtroom today that you do not want to miss, plus a video breakdown (no cameras allowed in court).
While Kris's fate has been learned, his co-conspirators, Kimberly Owen and Chris Snyder, will be sentenced on April 16 and 17th respectively, for the fraud conspiracy guilty pleas as well.
