Lee Vaccaro, Securities Fraud, California 2023

Newark, NJ – A Nevada man has been arrested and charged with defrauding investors out of more than $5 million in a complex investment scheme.

Lee Vaccaro, 44, of Las Vegas, Nevada, was arrested by special agents of the FBI this morning and charged by complaint with one count of conspiracy to commit securities fraud and one count of securities fraud.

According to documents filed in this case and statements made in court, Vaccaro and a co-conspirator, known only as ‘Conspirator #1,’ allegedly sold investors interests in companies they controlled, and falsely represented to investors that the companies held warrants in eAgency, a California-based company developing mobile security products.

Vaccaro and Conspirator #1 allegedly made oral and written misrepresentations concerning the existence, number, validity, and term of eAgency warrants purportedly owned by the investment companies, as well as about the amount of money Conspirator #1 had personally invested in and raised for eAgency, and Conspirator #1’s current position at eAgency.

In addition, Vaccaro and Conspirator #1 allegedly created and showed to investors numerous forged documents purporting to reflect the issuance of warrants to entities controlled by Vaccaro, and the transfer of those warrants to a company controlled by Conspirator #1.

The charges carry a maximum potential penalty of up to 25 years in prison and fines of up to $5.25 million. U.S. Attorney Paul J. Fishman credited special agents of the FBI, under the direction of Special Agent in Charge Timothy Gallagher in Newark, for the investigation.

If you believe you are a victim of or otherwise have information concerning this alleged scheme, you are encouraged to contact the FBI at 973-792-3000.

The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

This case is part of efforts underway by President Obama’s Financial Fraud Enforcement Task Force to combat financial crimes.

Related Federal Cases