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Sports Agent Charged With $500,000 Wire Fraud
BENJAMIN M. GELLER, age 53, a resident of Austin, Texas, was charged today in a one-count bill of information with wire fraud, announced U. S. Attorney Dana J. Boente.
According to court documents, GELLER was employed as a sports agent for, among others, Frank W. Warren, III, a former NFL player who played with the New Orleans Saints.
In or around 1994, according to the Bill of Information, GELLER assisted Warren in obtaining a life insurance policy worth approximately $1,000,000.
In the event of Warren’s death, the life insurance proceeds would fund a trust which was established by Warren and GELLER, for the benefit of Warren’s spouse and family.
GELLER was named trustee of the trust.
However, from in or around 2003 through in or around 2007, according to court documents, GELLER acted as the trustee of the trust and was only permitted to expend funds as the trust provided.
Despite that prohibition, according to court documents, from in or around 2003 through in or around 2007, GELLER unlawfully defrauded the trust and its beneficiary by spending over $500,000 in trust funds for his own personal use, including for travel, lodging, and entertainment purposes.
The trust funds were also used for GELLER’s personal businesses and other miscellaneous purchases.
The total amount of $500,000 was obtained through this fraudulent scheme, leaving the trust’s beneficiaries with significantly reduced funds.
GELLER’s actions demonstrate a clear disregard for the trust’s purpose and the well-being of its beneficiaries.
U. S. Attorney Dana J. Boente emphasized that wire fraud is a serious crime that can have devastating consequences for those affected.
GELLER, if convicted, faces up to 20 years in prison and a fine of up to $250,000.
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Key Facts
- State: Louisiana
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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