BULLETIN: Ponzi Scheme Figure William Walters To Be Extradited From Argentina, FBI, Colorado AG Say; Another ‘Offshore’ Myth Exposed
BULLETIN: (UPDATED 9:32 P.M. EDT (U.S.A.) William L. Walters has been extradited to the United States from Argentina to face Ponzi scheme charges in Colorado, prosecutors announced.
â€œThis extradition is the culmination of years of work and cooperation between my office and the FBI,â€ said Colorado Attorney General John Suthers. â€œIn this case, justice delayed will not result in justice being denied. We look forward to presenting our case against Mr. Walters and securing justice for his victims.â€
Walters, 45, fled the United States prior to being indicted in 2007. Interpol “flagged” his passport, and the FBI traced him to Argentina, prosecutors said.
The Walters’ case exposes a common myth on HYIP and autosurf Ponzi boards that “offshore” locations insulate Ponzi schemes from prosecution and that the schemers themselves can avoid arrest by operating outside the United States or fleeing from the United States to a foreign country after a scheme is exposed.
â€œPursuant to the FBIâ€™s Project Welcome Home, the Denver Division was able to work closely with the Colorado Attorney Generalâ€™s Office to insure that William Walters was returned to Colorado for prosecution,â€ said James H. Davis, FBI special agent in charge. â€œThis is yet another example of law enforcement cooperation in Colorado and our commitment to pursue fugitives from justice, even if they attempt to flee outside of the United States.â€
Walters is accused of operating a “day-trading” Ponzi scheme that gathered more than $23 million from investors in Colorado, California, Florida, Hawaii, Illinois, Massachusetts, Pennsylvania, Texas and Wyoming.
He operated companies known as Samurai Capital and Mana Trading Inc. A court in Argentina approved the extradition to the United States.
Read the Walters’ indictment.
Read more about the FBI’s “Project Welcome Home.”
Read about the U.S. Secret Service case against Vladislav Horohorin, who was arrested in France earlier this month after undercover agents infiltrated an online crime forum.
Horohorin allegedly operated an overseas fraud scheme targeted at U.S. residents.
Court records show that the Secret Service infiltrated the AdSurfDaily autosurf by employing undercover agents. Records also show that the agency employed undercover operatives in the investigation of the INetGlobal autosurf.
In the INetGlobal case, records show that undercover agents attended an INetGlobal function in New York earlier this year. The Secret Service said one of its agents was introduced to INetGlobal by an ASD member.
In the ASD case, the Secret Service said it believed that ASD President Andy Bowdoin was planning to flee the United States prior to the seizure of tens of millions of dollars in August 2008 — amid Ponzi allegations.