Two Orange County businessmen parading as ultra-wealthy, financial wizards are in federal custody today for operating a five-year scam that employed brazenly dishonest assertions to lure millions of dollars from investors, according to an indictment issued in the United States District Court for the Central District of California.
|I've got a really good bridge to sell you.|
Federal prosecutor Ivy A. Wang won no-bail status last week for arrestees Richard Senna of La Habra and Irvine's James N. Kanavos (a.k.a. Dimitri N. Kanavos), who are locked inside the Santa Ana jail and face wire fraud as well as aiding and abetting charges in a six-count indictment.
Both Senna and Kanavos have pleaded not guilty.
According to the indictment, Kanavos operated the Euro Bank Trust Corp. (a.k.a. EBTC, Inc.) with Senna from 2009 to March 2014 with a no-risk, 100 percent daily return on investment scam that falsely boasted of high government contacts around the world, including at the Vatican.More »