Image via WikipediaHey, congrats to the FBI for napping another "ponzi schemer" who bilked 20 people more than $2 million bucks in less than a one year period. Al Parker is heading to Federal Prison for the next four years for his misdeeds. I want to be able to share the stories of the victims of Mr. Parker. If you got ripped off by this bad boy, hit my comment section and sound off. Remember, if it is too good to be true, well....you know how it will always wind up....RrE
LOS ANGELES—A Woodland Hills man who bilked more than 20 victims out of approximately $2 million in less than one year has been sentenced to 46 months in federal prison.
Alfred Eugene Parker, 32, was sentenced Monday by United States District Judge R. Gary Klausner, who remanded the defendant into custody at the conclusion of the sentencing hearing. Parker was sentenced after pleading guilty in September 2010 to three counts of wire fraud and one count of making a false statement to a bank.
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| Yep. Parker got one of these bad boys for his efforts.... |
Instead of using investors’ money to help distressed homeowners, Parker used the money to finance a luxurious lifestyle, which included a Rolls-Royce Phantom, two Ferraris, a $2.5 million home, and trips to high-end resorts in Hawaii and Santa Barbara. Parker also used some of the money to make Ponzi payments to earlier investors.
In November 2007, Parker sought a $1 million line of credit from Broadway Federal Bank. When applying for the loan, Parker submitted forged documents to the bank and falsely claimed that he had $2 million in savings and that he owned valuable real estate in Los Angeles and Cleveland. When the bank approved a $200,000 line of credit, Parker drew down the funds in less than two months.
During Monday’s sentencing hearing, victims told Judge Klausner that Parker had preyed on African American victims in their community and that he had presented himself as a religious man who would use their investments to help needy homeowners in the area.
The case against Parker is the result of an investigation by the Federal Bureau of Investigation.
3 comments:
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FYI- this person is now out on parole, has obtained a job and is now back with his wife who managed to keep their condo which they purchased while he spent peoples money. I know this family. His dad is a Pastor (Zoe SFV) who's flock has left the church due to an extra marital affair with his secretary.
Alex parker is part of this family and ge has several companies opened operating under different entities listed as “charitable “ they are all scammers
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