San Francisco Investment Adviser Sentenced to 56 Months for Fraud Scheme
| U.S. Attorney’s Office August 07, 2013 |
SAN FRANCISCO, CA—Hausmann-Alain Banet (aka Anzoumana Ousmann Gbane, aka Gbane Anzoumana, aka Ousmann Gbane, aka Ousmann Gbane Anzounan Banet, aka Ousmann-Alain Gbane) of San Francisco, California, was sentenced yesterday to 56 months in prison and ordered to pay $1.2 million in restitution for defrauding former investment clients, United States Attorney Melinda Haag announced.
Banet pleaded guilty on May 21, 2013, to wire fraud and mail fraud. According to the Plea Agreement, from approximately June 2008 through July 2012 Banet induced numerous individuals to give him money by falsely representing that he, on behalf of his investment management company, Lion Capital Management Group, LLC, would invest the money in hedge funds. Instead, Banet spent the money for personal and business expenses, all unrelated to investment income. As part of his scheme, Banet sent quarterly investment account statements to victims in which he falsely stated that the funds had been invested and that the accounts had realized gains. At sentencing, the Court also found that Banet had attempted to obstruct a related civil investigation by making false statements to the Securities and Exchange Commission.
Banet, 50, was originally indicted by a federal grand jury on October 2, 2012. He was charged with six counts of wire fraud, eleven counts of mail fraud, and six counts of money laundering. Under the plea agreement, Banet pleaded guilty to two counts of wire fraud and two counts of mail fraud. Banet has been in custody since approximately January 3, 2013.
The sentence was handed down by The Honorable William H. Alsup, U.S. District Court Judge. Judge Alsup also sentenced the defendant to a three-year period of supervised release and ordered forfeiture of Banet’s interest in his San Francisco condominium, bank and trading accounts totaling approximately $78,000, and his Mercedes Benz.
Denise Marie Barton is the Assistant United States Attorney who is prosecuting the case with the assistance of Allen Williams, Pat Mahoney, and Elizabeth Garcia. The prosecution is the result of an approximately five-month investigation by the Federal Bureau of Investigation, with the assistance of the San Francisco Office of the Securities and Exchange Commission and Immigration and Customs Enforcement.
Banet pleaded guilty on May 21, 2013, to wire fraud and mail fraud. According to the Plea Agreement, from approximately June 2008 through July 2012 Banet induced numerous individuals to give him money by falsely representing that he, on behalf of his investment management company, Lion Capital Management Group, LLC, would invest the money in hedge funds. Instead, Banet spent the money for personal and business expenses, all unrelated to investment income. As part of his scheme, Banet sent quarterly investment account statements to victims in which he falsely stated that the funds had been invested and that the accounts had realized gains. At sentencing, the Court also found that Banet had attempted to obstruct a related civil investigation by making false statements to the Securities and Exchange Commission.
Banet, 50, was originally indicted by a federal grand jury on October 2, 2012. He was charged with six counts of wire fraud, eleven counts of mail fraud, and six counts of money laundering. Under the plea agreement, Banet pleaded guilty to two counts of wire fraud and two counts of mail fraud. Banet has been in custody since approximately January 3, 2013.
The sentence was handed down by The Honorable William H. Alsup, U.S. District Court Judge. Judge Alsup also sentenced the defendant to a three-year period of supervised release and ordered forfeiture of Banet’s interest in his San Francisco condominium, bank and trading accounts totaling approximately $78,000, and his Mercedes Benz.
Denise Marie Barton is the Assistant United States Attorney who is prosecuting the case with the assistance of Allen Williams, Pat Mahoney, and Elizabeth Garcia. The prosecution is the result of an approximately five-month investigation by the Federal Bureau of Investigation, with the assistance of the San Francisco Office of the Securities and Exchange Commission and Immigration and Customs Enforcement.
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