KMOX 1120AM
Traffic & Weather: Get The Latest Information | Traffic Maps | Weather Forecast

Local

Illinoisan Admits $2.4 Million Investment Scheme

View Comments
Justice
News

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

EAST ST. LOUIS, Ill. (AP) — A judge has set a November sentencing date for a southwestern Illinois businessman who’s admitted orchestrating a scheme that swindled $2.4 million from two dozen would-be investors.

Sixty-three-year-old Edward Moskop of Belleville pleaded guilty Wednesday in U.S. District Court in East St. Louis to mail fraud and money laundering charges.

Prosecutors say Moskop carried out the crimes even after he was barred from peddling securities two decades ago, victimizing relatives, military veterans and customers of his insurance business.

As part of the scheme, Moskop created bogus receipts to clients, along with fraudulent account numbers or forged certificates. He also sent clients fake annual statements summarizing the supposed investments and their earnings.

Sentencing will be Nov. 18.

Copyright 2011 The Associated Press

View Comments
blog comments powered by Disqus