Anchorage Woman Sentenced to 21 Months in Prison for Role in Investment Fraud Scheme
Anchorage, Alaska – A 26-year-old Anchorage woman has been sentenced to 21 months in prison for her role in an investment fraud scheme that targeted small investors in Anchorage in 2011 and 2012.
Mary Elizabeth Transki was sentenced yesterday by U.S. District Court Judge Sharon Gleason to 21 months in prison following her conviction for one count of securities fraud.
According to Assistant U.S. Attorney Joseph Bottini, who prosecuted the case, Transki’s co-defendant in the case, Floyd Leroy Lee, Jr., set up an investment company – Platinum Investments, Inc. – in Anchorage in October of 2010. Lee, assisted by Transki, subsequently solicited investors with the promise of high-yield returns in a brief amount of time.
Between September 2011 and March 2012, Lee and Transki took in approximately $62,000 in investment funds. After receiving the money, Lee and Transki did not invest it as promised and instead used the funds for their own personal use and benefit.
Lee and Transki were indicted by a federal grand jury in April 2013 for one count each of securities fraud related to the investment fraud scheme. Lee was also indicted for one count of mail fraud. Transki and Lee each pled guilty in June 2013 to the securities fraud charge, and Lee additionally pled guilty to the mail fraud count.
In sentencing Transki to 21 months in prison, Judge Gleason noted that Transki’s role in the fraud scheme had been greater than simply a ministerial role as Transki had maintained. Judge Gleason also noted that Lee and Transki had preyed on small investors who are the type of individuals least able to absorb the loss of investment funds.
U.S. Attorney Karen L. Loeffler commends the Federal Bureau of Investigation for their investigation of this case.
Related Federal Cases
- Denae Sullivan, Bank Fraud and Aggravated Identity Theft, Alaska 2023 · Illinois
- Ayub Yusuf Eprahin, Wire Fraud, Alaska 2014 · Alaska
- Earl Worthy, Conspiracy to Defraud the Government, Mail Fraud, Aggravated Identity Theft, Alaska 2015 · Alaska
- Carlton P. Cabot, Securities Fraud, New York 2023 · Alaska
- Earl Worthy, Conspiracy to Defraud the Government, Mail Fraud, Aggravated Identity Theft, Alaska 2016 · Alaska
Key Facts
- State: Alaska
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
