CAMDEN, NJ — A California man was sentenced to 42 months in prison today for defrauding elderly victims through a bogus investment scheme, U.S. Attorney Philip R. Sellinger announced.
Christopher Glynn, 59, of Burbank, Calif., previously pleaded guilty before U.S. District Judge Robert B. Kugler in federal court in Camden to a substitute plea charging him with one count of wire fraud and a chief money launderer.
According to documents filed in this case and statements made in court:
Glynn maintained a variety of corporate entities, including US Grant Distribution Group, PG Philanthropic Initiative, Perrarus Global Philanthropic Initiative, and others. Glynn also claimed affiliation with an international trust that was allegedly funded by billions of dollars.
Glynn approached two victims in Vineland, New Jersey, and offered them the opportunity to “invest” hundreds of thousands of dollars in a “business development loan.” Glynn told the victims that this business development loan would be used for authorized business and legal expenses related to his entities and the international trust. The loan would also be used for expenses related to a charitable animal protection foundation and a shelter that Glynn was helping victims set up. Glynn assured the victims that the international trust would guarantee their business development loan, that the loan would generate specific returns for the victims, and that the victims could use the returns to fund their charitable foundation and animal welfare shelter.
Glynn sent emails and other correspondence and contracts to the victims. Glynn also arranged conference calls between himself, his associates and the victims, including a call that Glynn said included “a direct representative from the NSA (National Security Agency) and a representative from the DHS (Department of Homeland Security). ) or the FBI.” Glynn took these steps in order to convince the victims that they were investing in a legitimate business opportunity.
Glynn eventually ordered the victims to wire funds to various bank accounts controlled by Glynn, in order to fund the “Business Development Loan”. The victims did, relying on Glynn’s representations of how the funds would be used. In addition, Glynn also convinced the victims to open credit cards in the name of their future charitable animal welfare foundation, which Glynn and his associates would have access to.
Instead of using the “business development loan” and credit cards in the way Glynn promised, Glynn and his associates diverted the victims’ money and used it for unauthorized personal expenses such as travel. personal care, tanning services and luxury retail purchases.
In addition to the prison sentence, Judge Kugler sentenced Glynn to three years of probation.
U.S. Attorney Philip R. Sellinger credited special agents from the FBI’s Atlantic City Resident Agency, under Special Agent in Charge George M. Crouch Jr. in Newark, with the investigation that led to today’s sentencing.
The government is represented by Assistant US Attorneys Sara A. Aliabadi and Andrew B. Johns of the Criminal Division of the US Attorney’s Office in Camden.