ERIC V. BARTOLI, THE FUGITIVE PONZI SCHEME KINGPIN, WAS ARRESTED IN PERU AFTER A DECADE ON THE RUN.
Bartoli, who was indicted in 2003 on a 10-count indictment, is accused of operating a large-scale ponzi scheme from 1995 through 1999. His company, Cyprus Funds, Inc., raised approximately $65 million from an estimated 800 investors, including retirees, through fraudulent means.
The Securities and Exchange Commission sued Bartoli in 1999 over charges involving Cyprus Funds, Inc. Following his disappearance after a court hearing, a civil arrest warrant was issued for him. He had fled Ohio and was later arrested in New Hampshire but escaped detention, becoming a fugitive.
In October 2003, a federal indictment was filed against Bartoli in the U.S. District Court for the Northern District of Ohio, charging him with conspiracy, securities fraud, sale of unregistered securities, wire fraud, mail fraud, money laundering, and attempted income tax evasion.
Bartoli has been featured on television shows and FBI wanted posters, highlighting his status as a top-tier fugitive. This morning, at 6:15 a.m., the Peruvian National Police apprehended Bartoli in Chorillos, Lima, Peru. The arrest was the result of a joint operation between the FBI, Diplomatic Security Service, and the Peruvian National Police.
Stephen D. Anthony, Special Agent in Charge of the Cleveland Division of the Federal Bureau of Investigation, expressed gratitude for the international law enforcement partnership that led to Bartoli’s capture. United States Attorney Steven M. Dettelbach echoed sentiments of relief, stating that the long-awaited prosecution of Bartoli would bring satisfaction to those he defrauded.
Related Federal Cases
- Eric Bartoli Gets 20 Years for $65M Ponzi Scheme · New Hampshire
- Belmont Man Admits to Bank Fraud Scheme · Maryland
- NY Man Gets 24 Months for Multi-State Bank Fraud Scheme · New Hampshire
- Live Nation Faces Trial Over Monopoly Practices · Washington
- Aaron E. Olson Ordered to Pay $22.8M in Ponzi Scheme Restitution · Massachusetts
Key Facts
- State: Ohio
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Organized Crime
- Source: Official Source ↗
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