Fecker Pleads Guilty to Bank Fraud in Ponzi Scheme Scam

Former Ft. Lauderdale resident Henry Fecker III has pleaded guilty to a count of bank fraud in what authorities describe as an elaborate Ponzi scheme scam.

The 60-year-old, who was the listed owner of Camden Consulting, Inc., admitted using the shell company to receive proceeds from the massive Ponzi scheme operated by Mutual Benefits Corporation (MBC) from 1994 to 2004. Fecker was charged for obtaining a $1.5 million bank loan from Washington Mutual Bank in 2006, which he used to support his lavish lifestyle and pay bills for himself and his accomplices after MBC’s shutdown.

Fecker, along with Steven Steiner (a/k/a Steven Steinger), had previously faced money laundering and obstruction of justice charges. While Steiner was convicted on 31 counts, Fecker was acquitted of all charges in an earlier trial before U.S. District Judge Kathleen Williams.

In addition to Fecker’s guilty plea, Joel Steinger and Steven Steiner had also pleaded guilty to related charges. The investigation into this case was a joint effort by the FBI and IRS-CI, with the prosecution led by Assistant U.S. Attorneys Jerrob Duffy, Dwayne E. Williams, and Alison Lehr.

Sentencing for Fecker is scheduled for July 18, 2014, before U.S. District Judge Robin S. Rosenbaum.