Angelina Lazar, Investment Fraud Scheme, Virginia 2007

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Table of Contents

Former CEO Pleads Guilty to Investment Fraud Scheme

Alexandria, Va. – In a shocking turn of events, former CEO Angelina Lazar, 54, of Windsor, Ontario, pleaded guilty to her role in a massive investment fraud scheme involving foreign exchange currency.

According to the statement of facts filed with the plea agreement, Lazar was the Chairman and CEO of Charismatic Exchange, Inc., an investment firm in Las Vegas. Between May 2005 and February 2007, Lazar solicited individuals to invest money in foreign exchange currency funds she managed.

Lazar falsely represented her experience, her success rate, how funds would be invested, and how funds were ultimately spent. For example, she told investors her company used special software to facilitate and enhance her ability to successfully trade foreign currencies. However, Lazar did not possess the software nor did her company ever purchase it.

As a result of her fraudulent conduct, victim investors suffered at least $20,000 in losses. In addition to her guilty plea, Lazar will be immediately deported from the United States to Canada.

The case was announced after U.S. District Judge Liam O’Grady accepted the plea and announced the sentence. Assistant U.S. Attorney Uzo Asonye prosecuted the case.

Lazar’s guilty plea is a significant blow to those who fell victim to her investment scheme. The case serves as a reminder of the importance of due diligence when investing in the financial markets.

The U.S. Attorney’s Office for the Eastern District of Virginia and the FBI’s Washington Field Office are to be commended for their tireless efforts in bringing Lazar to justice.