Man pleads guilty to fraud scheme against Haitians

AP News
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Posted: Nov 23, 2009 3:59 PM

A Florida man accused of running a Ponzi scheme that scammed more than $14 million from Haitian-American investors has pleaded guilty.

Brian Taglieri pleaded guilty last week to conspiring to commit securities fraud. He is set for sentencing in federal court on Jan. 29.

The 49-year-old faces up to five years in prison and a $250,000 fine. He has agreed to reimburse hundreds of investors. Two other suspects also are charged in the scheme.

Authorities say the men bilked investors of $14.3 million in 2008 from their Delray Beach offices, promising to double their clients' money every 90 days through their HomePals Investment Club.

Authorities say the men raised most of their money through as many as 64 Haitian-American investment clubs.

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Information from: The Palm Beach Post, http://www.pbpost.com