12 months ago
SACRAMENTO, CA - The FBI is seeking a second fugitive in what prosecutors describe as a $100 million Ponzi scheme involving fraudulent mortgages.
A federal judge signed an arrest warrant Friday for Scott Edward Cavell, 25, who is believed to have fled the country on a commercial airline flight with a phony passport.
Investigators identify Cavell as the "right-hand man" of Christopher Jared Warren, 26,who is also believed to have fled the country-- but on a private jet that cost him $156,000.
Cavell is travelling on a passport under the name Adam Kingsbury Curry, according to the complaint filed in federal court. Warren's passport was issued under the name Mark Andrew Seagrave.
Both men said on their passport applications they planned to spend up to six months in Mexico.
Cavell and Warren are charged in connection with Roseville-based Loomis Wealth Solutions, described by an IRS investigator as a fraudulent investment scheme involving 500 properties in six states with losses estimated at $100 million.
Christopher Warren admitted his guilt in a seven-page essay posted on his company's Web site the day investigators say he fled the country.
Previous News10 stories:
2/5/2009 Mortgage "Fraudster" Flees on Private Jet
2/2/2009 Mortgage Fraud Insider Post Apology on Web Site
