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Wisconsin man among six accused of securities fraud

Judge's Gavel By Brian Turner (Flickr: My Trusty Gavel) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Judge's Gavel By Brian Turner (Flickr: My Trusty Gavel) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

LAS VEGAS (WTAQ) - A Racine County man is among six people accused of running a multi-million dollar securities' fraud ring in Las Vegas and Zurich Switzerland.  

Federal prosecutors said James Warras of Waterford was arrested Friday in Wisconsin. That was the same day Joseph Micelli and Antony Brandel pleaded not guilty to 24 charges in federal court in Las Vegas. Those counts include conspiracy, wire fraud, and securities fraud.  

The other three suspects are still being sought. They are Sean Finn of Whitefish Montana, and Martin Schlaepfer and Hans-Jurg Lips, both of Zurich.  

The six allegedly used Switzerland's Malom Group and the Nevada firm of My Consultants to defraud investors of millions of dollars over the past four years. 

(Story courtesy of Wheeler News Service)