Wash. man pleads guilty to defrauding ID investors

Court News Posted on

A Washington man has pleaded guilty in federal court in Idaho to cheating investors out of more than $2 million and using the cash for his own benefit.

Federal prosecutors say 59-year-old Dale Edward Lowell, of Colbert, Wash., pleaded guilty to one count of wire fraud Tuesday.

Investigators say Lowell, while living in northern Idaho in 2005, started raised money from investors by telling him he was a savvy options trader. He also told investors he had taken steps to cover losses.

Altogether, prosecutors say Lowell duped 22 investor groups and raised about $2.2 million that he ultimately lost in the market, used for personal expenses or to pay off investors to keep the scheme going.



Legal News Media

Legal News is the top headline legal news provider for lawyers and legalprofessionals. Read law articles and breaking news from law firm's across the United States to get the latest updates. We reserve the right, at our discretion, to change, modify, add, or remove portions of the site at any time. Your This site is solely for your personal use. You are, of course, welcome to print or otherwise copy material from this site for your personal use. However, you may not distribute, exchange, modify, sell or transmit anything you copy from this Site, including but not limited to any text, images, audio and video, for any business, commercial or public purpose. Any unauthorized use of the text, images, audio and video may violate copyright laws, trademark laws, the laws of privacy and publicity and civil and criminal statutes.

 

American Bar Association – Start and Run a Law Firm

NewYorkStateBar.com – Starting a Law Firm

Lawyer Website Designs