Mr. Schiff: Marble. Investors. Fraud. All part of a guy in Vermont telling innocent folks that if they invest in his marble business, they’ll get a huge return on their money. Didn’t happen. The FBI got some complaints and Special Agent Daniel Racheck in Burlington, Vermont, began an investigation...
Mr. Rachek: "Based on the information we got from the investors, we got bank records. And that was the key to the case.”
Mr. Schiff: The FBI and IRS worked together. Racheck says the subject bilked victims out of around $10 million...
Mr. Rachek: "This special marble that he was going to make, was going to be used, he told some people, in the space shuttle as tiles to protect the space shuttle when it re-entered into the atmosphere.”
Mr. Schiff: Rachek says the guy faced several charges including money laundering...
Mr. Rachek: "Mail Fraud; Wire Fraud; in addition he had a side scheme where he committed Bank Fraud lying on a couple of mortgages to obtain a property.”
Mr. Schiff: The subject pleaded guilty. He has to pay back millions and serve 11-years in prison. I’m Neal Schiff of the Bureau and that's the FBI's Closed Case of the Week."
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