Kris Roglieri Arrested for Fraud Charges and Scheduled to Appear in Court Today

June 3, 2024

Delaney Sexton
Contributing Editor

Kris Roglieri Arrested for Fraud Charges and Scheduled to Appear in Court Today

Source: Warren County Sheriff’s Office

After talking about Roglieri’s legal woes and an ongoing federal investigation for months, there was finally an announcement. On Friday, Kris was arrested for wire fraud and appeared in Albany before a Judge. Over the weekend, he was detained and will be attending a detention hearing today at 3 p.m.

To summarize the scheme, Kris Roglieri and his company Prime Capital would agree to fund substantial commercial projects. The borrower had to send upfront interest payments, typically worth millions of dollars. Those payments would be deposited into “interest credit accounts,” which would then be debited over the life of the loan as it accrued interest. If Prime Capital failed to secure a loan for the borrower, the ICA payment was refundable.

The criminal complaint alleges that Roglieri defrauded a Minnesota company in December 2023. Prime Capital Ventures agreed to provide $100 million for the company’s project. When that commitment was made, Prime Capital had already failed to fund previous clients’ loans, failed to return tens of millions of dollars in interest credit account payments to previous clients, and was in the middle of numerous lawsuits for alleged fraud.

At the end of December, the company sent Prime Capital a $5 million interest payment. Upon receiving that payment, Roglieri allegedly spent the funds. The government claims that he transferred $950,000 to meet a financial obligation to a different client, paid $84,000 for a Rolex day-date 36 mm yellow gold diamond bezel watch, and paid $101,000 for round-trip private air travel to and from Anguilla for a family vacation.

This investigation is still ongoing.

U.S. Attorney’s Office Press Release