Cristopher Cristea, Fraud, Missouri 2016

In a shocking case of financial deceit, Cristopher Cristea and David Corey Tolle, owners of Cristol Enterprises, LLC and Charis Minerals, Inc., have been brought to justice for their role in a massive fraud scheme.

The defendants, both residents of St. Charles, MO, pled guilty to federal charges of conspiracy, wire fraud, money laundering, and making false statements to a financial institution.

According to court documents, Cristea and Tolle solicited investors for their mining companies, promising them large returns on their investments. However, instead of using the funds to explore for and extract valuable minerals, the majority of the money was used for personal expenses and unrelated business expenses.

Cristea’s guilty plea last week was a significant blow to the defendants’ attempts to cover their tracks. He admitted to using funds to provide student loans to beauty academy students and to repay an earlier investor.

On a separate occasion in December 2014, Cristea applied for a $1 million line of credit at a bank, falsely stating that he was not a defendant in any suit or legal action and that he had $295,000 cash in checking accounts and securities worth $13,000,000.

David Corey Tolle pled guilty today to one felony count of wire fraud, while Cristopher Cristea faces multiple charges, including conspiracy, four felony counts of wire fraud, one felony count of money laundering, and one felony count of making a false statement to a financial institution.

Each of the conspiracy and fraud charges carries a maximum penalty of 20 years in prison and/or fines up to $250,000. Money laundering carries a maximum of 10 years prison and/or fines up to $250,000, while making a false statement to a financial institution carries a maximum of 30 years in prison and/or fines up to $1 million.

The case was investigated by the Federal Bureau of Investigation, with Assistant United States Attorney Steven Muchnick handling the case for the U.S. Attorney’s Office.

The sentencing for Cristea has been set for April 20, 2016, while Tolle’s sentencing is set for May 2, 2016.

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