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FOR IMMEDIATE RELEASE |
Feb. 27, 2008
FEDERAL PROSECUTORS SET UP HOTLINE FOR VICTIMS IN PBS GLOBAL FRAUD CASE
WICHITA, KAN. – A hotline has been set up to provide information to victims of an alleged fraud scheme that targeted owners who wanted to sell their businesses.
“Hundreds of business owners throughout the United States may have hired PBS Global Inc. to help them find buyers,” said U.S. Attorney Eric Melgren. “The hotline gives them a way to obtain information to which they are entitled about the case.”
Under federal law, crime victims’ rights include:
● Timely notices of court proceedings
● A reasonable opportunity to confer with prosecutors
● The right to be heard at hearings including pleas and sentencing
A 43-count federal indictment returned in September 2007 includes charges of conspiracy, wire fraud, mail fraud and money laundering against owners and employees of PBS Global, Inc. Eight employees of the company are charged in the indictment, which alleges that PBS Global generated millions in revenue through fraudulent practices including:
● Providing clients who wanted to sell their business with sham matches. The buyers were unqualified or uninterested in purchasing the businesses.
● Providing clients with phony references.
● Denying the claims of customers who attempted to exercise a money back guarantee.
● Completing few sales while generating more than $18 million in revenue from fees paid by clients for valuations and other services.
HOTLINE NUMBER: 316-269-6594
Victims should call the hotline at 316-269-6594 and leave the following information:
● Name
● Address
● Telephone number
● A brief description of the victim’s connection to the case and what kind of assistance the victim is seeking.
The hotline does not offer any guarantees of money for victims.
“Victims who want refunds from PBS Global, Inc., should know that the court will take the matter up at a later date,” Melgren said. “When we get more information on that subject we will share it with the people who call the hotline.”
Charged in the case are: Richard A. Hagan, Brian P. Renneisen, John R. Persaud, Cheri L. Persaud, Andrew S. Wang, Marvin R. Hicks, Shaun A. Smoker and Brandon Cook. Trial is scheduled for Sept. 8 in U.S. District Court in Wichita.
A legal publication appeared on page 3C of the Wichita Eagle today providing more information about the case and the hotline.
As in any criminal case, a person is presumed innocent until and unless proven guilty. The indictments filed merely contain allegations of criminal
conduct.
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