A 27-year old Florida man has been arrested on suspicion of running a Ponzi scheme that defrauded investors out of at least $2.3 million. Anthony Klatch II, 27, of Tampa, Florida, was charged by federal authorities in an 18-count indictment that included charges of conspiracy, securities fraud, wire fraud, and money laundering. Wire fraud and mail fraud each carry a twenty-year maximum sentence in prison, along with criminal monetary penalties.
According to authorities, Klatch and partner Tim Sullivan founded TASK Capital Partners, LLC ("TASK"), where Klatch served as senior managing director and chief investment officer. Potential investors were provided with investment prospectuses that contained misleading information and material omissions, including the claim that TASK had been achieving positive investment returns since 1997 when TASK had not been formed until 2009. From April 2009 to October 2009, Klatch solicited at least eight investors to place over $2.3 million with TASK. Yet, only a small percentage of funds were used for investing purposes, and authorities allege that Klatch lost this entire amount. Klatch misappropriated the remainder of funds for non-investment purposes, including transfers to his personal bank account and the purchase of a home and several luxury automobiles. In the indictment, authorities are seeking the forfeiture of these items.
Klatch was arrested in July, and is currently being held on bond in a Florida jail.