Kris Roglieri’s Chief Operating Officer Pleads Guilty to Loan Fraud

May 23, 2025

Bob Coleman
Founder & Publisher

Kris Roglieri’s Chief Operating Officer Pleads Guilty to Loan Fraud

Christopher Snyder, former Chief Operating Officer of Prime Capital Ventures, has agreed to plead guilty to one count of conspiracy to commit wire fraud. This development is part of a larger fraud case involving three co-conspirators.

The main suspect, Kris Roglieri, is currently sitting in a New York County Jail awaiting trial on fraud charges, set to begin in January 2026. Bail has been denied for threatening an FBI agent.

The third co-conspirator remains unidentified by federal authorities.

In Snyder’s plea agreement, he says Roglieri transferred, stole, and fraudulently diverted borrower loan funds by initiating wire transfers over the internet from his home to KeyBank servers in Ohio.

Snyder says approximately 18 victim borrowers paid Prime Capital over $40 million in due diligence and ICA payment fees. The conspirators claimed these ICA payments would be held separately and refunded if loans didn’t materialize. However, Snyder knew Prime Capital was unable to secure loans and was operating a Ponzi-like scheme, using new client funds to pay off earlier borrowers.

As part of the scheme, conspirators asked prospective clients to sign a letter of intent and pay a $25,000 to $75,000 due diligence fee to Prime Capital.

This was followed by soliciting upfront monies from the borrowers in the form of an interest credit account (ICA) payment. The theory was that the money represented prepaid interest for a construction loan. Prime Capital promised that the ICA payment would be kept in a separate account and would be fully refundable if the loan did not materialize.

Kris Roglieri explained this to one prospective borrower during a recorded phone call in December 2023.

Snyder knew Prime Capital had been unsuccessful in securing loans for its borrowers and that the company was using a Ponzi-type scheme, utilizing newer fundings to pay off older borrower clients.

But, Snyder continued to work the fraud. One specific instance, which was used for the criminal indictment against Kris Roglieri occurred in December 2023. Roglieri and another co-conspirator fraudulently sought and obtained a $5 million ICA payment from 1800 Park Avenue, a Minnesota company that was seeking a $100 million line of credit to construct an egg farm.

It remains unclear whether Snyder will testify against Roglieri in the upcoming trial. Snyder’s sentencing hearing has not yet been scheduled.