URGENT >> BULLETIN >> MOVING: Prosecutors Ask Judge To Sentence AdSurfDaily’s Andy Bowdoin To Maximum Prison Term
URGENT >> BULLETIN >> MOVING: Federal prosecutors in the District of Columbia have asked U.S. District Judge Rosemary Collyer to sentence acknowledged Ponzi schemer Andy Bowdoin of AdSurfDaily to the maximum term outlined in Bowdoin’s May 2012 plea agreement: 78 months.
News of the sentencing memo and detailed new allegations against Bowdoin, 77, broke one day after some ASD members were circulating an email that asked their fellow members to “flood” a federal judge with letters of support for the recidivist con man.
In a sentencing memo and accompanying exhibits, prosecutors advised Collyer that they had linked Bowdoin to AdViewGlobal (AVG), a collapsed 1-percent-a-day Ponzi scheme “that was simply a repackaged version of ASD.”
The criminal preparations to launch AVG began in October 2008, just two months after the seizure of tens of millions of dollars in ASD-related bank accounts by the U.S. Secret Service in August 2008, according to an evidence exhibit filed by prosecutors.
Bowdoin was a two-thirds owner of AVG, which did some of its banking in Switzerland, according to an exhibit.
And prosecutors linked Bowdoin to OneX, another alleged fraud scheme.
In what is believed to be the first public filing that includes specific details about OneX, prosecutors produced an exhibit that identified one of the principals of OneX as James C. Hill, who allegedly also is known by the initials J.C.
The introduction of the document ends one of the long-standing OneX mysteries: the identity of “J.C.,” who once assured conference-call listeners that “God” was aboard the OneX train.
When confronted about OneX, prosecutors said, Bowdoin claimed he’d done nothing wrong and was acting on “advice of counsel.”
” . . . it became clear that Bowdoin did not speak to a lawyer about OneX, but merely relied on another OneX promoter who had supposedly spoken to a lawyer,” prosecutors said.
But the most explosive revelations by the government concerned AVG. The exhibits show that investigators obtained emails going back and forth among AVG participants described as Bowdoin “co-conspirators.”
In one document obtained by investigators, Bowdoin describes two separate alleged thefts from AVG totaling $2.65 million, according to an evidence exhibit.
Bowdoin’s partner in AVG was former ASD executive Gary Talbert, according to an evidence exhibit. Bowdoin blamed the alleged theft on Arizona business associates of Talbert.
The Bowdoin story is one “that reads like a handbook on fraud and deception,” prosecutors said.
ASD’s patriarch and the co-profiteer of AVG cheated investors out of tens of millions of dollars, prosecutors argued, saying that Bowdoin’s career as a crook dated back “several decades” and caused victims to turn over more than $120 million to the huckster.
“He had no concerns for the lives he affected or destroyed, and he boldly continued or expanded his criminal conduct even while under the supervision of this Court,” prosecutors argued.