More than $100 Million Missing in Kris Roglieri & Prime Capital Case – Fraud Friday

April 26, 2024

Delaney Sexton
Contributing Editor

More than $100 Million Missing in Kris Roglieri & Prime Capital Case – Fraud Friday

The receiver of Prime Capital Ventures has now estimated that the potential fraud has surpassed $100 million. As Roglieri’s personal and business bank accounts are being reviewed, the dollar amount is rising. A report says Roglieri used accounts at Farmers Bank, KeyBank, and Citibank to keep customer deposits.

Paul Levine, the receiver, shares that $99 million in customer cash was deposited at Farmers Bank. Then, $83 million was deposited into KeyBank and Citibank. In another report, he stated that some of the money was actually returned to customers, about $57 million. That leaves a remaining $125 million in customer deposits that are not accounted for.

In general, Prime Capital Ventures had a large amount of cash moving through it according to Levine. From September 2022 to January 2023, only a five-month period, over $140 million in deposits and withdrawals went through a Prime Capital Venture account at Citibank. Levine says, “As is apparent, tens upon tens of millions of dollars were transferred by Prime to numerous third parties.”

This week, the trustee of Kris Roglieri’s bankruptcy is requesting that the court convert it from a Chapter 11 to a Chapter 7 in order to secure as many assets as possible to pay back creditors.

At this time, no criminal fraud charges have been filed against Roglieri or his companies, but it appears that there is an ongoing federal criminal investigation. The criminal charges Roglieri is facing is two felony weapon charges.

Sources:
Times Union Article
deBanked Article

Read our previous reporting:
FBI Raids Kris Roglieri’s Home – February 13, 2024
$50 MILLION MISSING IN ROGLIERI FRAUD Says Trustee – February 14, 2024
Media from Kris Roglieri – February 15, 2024
The Cars, the Girls, and the Missing $52 Million – February 16, 2024
Roglieri Updates: $90 Million Missing, Owes $3 Million in Chapter 11 Bankruptcy Filing – February 21, 2024
Roglieri Update: Drugs and Guns Confiscated in FBI Raid – March 7, 2024
Kris Roglieri and Broward Sheriff’s Office Update! – March 15, 2024
Kris Roglieri Listed Under New York’s Top 250 Delinquent Taxpayers – March 18, 2024
COLEMAN REPORT EXCLUSIVE: Kris Roglieri Mugshot – March 19, 2024
Another Company, Another $5 Million, Another Roglieri Update – April 19, 2024