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.

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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