The Cars, the Girls, and the Missing $52 Million – Fraud Friday

February 16, 2024

Delaney Sexton
Contributing Editor

The Cars, the Girls, and the Missing $52 Million – Fraud Friday

Since the start of this week, Kris Roglieri personally filed for Chapter 11 bankruptcy protection listing almost $3 million in debts including more than $1 million in legal bills. This was filed amidst Kris Roglieri, his accused partner-in-crime Kimberly Humphrey, and his companies being investigated. The receiver claimed he found evidence of a Ponzi-style scheme with tens of millions in customer funds according to the Times Union.

It was discovered that Prime extended lines of credit to third parties and received millions of dollars in interest credit account (ICA) deposits, but Prime did not fund “a significant portion” of those loans or return the ICA deposits.

In September 2022, Prime entered an agreement with Onward Partners, LLC stating that they would extend a $107 million line of credit. Onward wired $20 million to Prime to establish an ICA, but Prime did not hold up its end of the deal. They failed to send an advance to Onward or Onward’s initial deposit back. According to court documents, $4 million is missing from this transaction.

This was not the first or last company that claimed they never received credit or their deposit back. The following companies have similar stories, and many took legal action against Prime:

  • B&R Acquisition Partners – Alleged $4.3 million missing
  • 526 Murfreesboro, LLC – Alleged $4.3 million missing
  • HCW Biologics Inc. – Alleged $5.25 million missing
  • Compass-Charlotte 1031, LLC – Alleged $15.9 million missing
  • Camshaft CRE 1, LLC – Alleged $12.4 million missing
  • Newlight Technologies, Inc. – Alleged $2.5 million missing
  • ER Tennessee LLC – Alleged $15 million missing
  • Motos America Inc. – Alleged $3 million missing
  • 1800 Park Avenue LLC – Alleged $5 million missing

The complaint accuses the defendants of $63 million missing dollars, but what was done with the money? According to the complaint, “the Prime accounts show that there has been a significant dissipation of Prime’s assets as a result of K. Roglieri making substantial luxury purchases.” Those luxury purchases include:

  • At least $10.1 million towards luxury vehicles
  • At least $4.38 million toward luxury watches, jewelry, and antiques
  • At least $835,000 on private plane charters with XO Global

The receiver also confirmed that Prime purchased a luxury home in Virginia that had a contract price of $3.75 million. Kris states that the house was an investment by Prime. He also told the receiver that Kimmy Humphrey lives in the house and pays utilities but does not pay rent or insurance.

More than $16 million was transferred into the various bank accounts of Kris, Prime, or other individuals and companies close to him. Based on the court documents, nearly $31.75 million of “known and identifiable Prime assets” were misappropriated between alleged transfers and luxury purchases.

Times Union Article

Read our previous reporting:
Media from Kris Roglieri