Friday August 19 2022
- iCore Global claimed 156 offices in 64 countries
- $47.45 B annual transactions
- Actually two mail boxes at UPS
- Defrauded investors for $2.1M
- Samantha Mueting charged seven counts of wire fraud, two other single count
i/core Global Execs plead guilty
Two executives of iCore Global LLC (iCore) have pleaded guilty to their involvement in a fraud scheme.
According to court documents, Samantha L. Mueting, 57, of San Antonio and Josephus De Laat, aka Jos De Laat, 61, of Spicewood defrauded investors through iCore, a company Mueting owned and operated and touted as being a multi-national commercial real estate provider. De Laat served as iCore’s chief financial officer.
Together they conspired to perpetrate a series of frauds upon couples nearing retirement. The defendants promised to allocate the victim couples’ funds into a commercial real estate hedge fund, but instead used the funds for their own personal gain. According to the indictment, they made fraudulent misrepresentations that iCore was a full service, conflict-free, commercial real estate provider worldwide.
Mueting claimed that iCore operated in at least 64 countries, with 156 offices, managed anywhere from tens to hundreds of billions of dollars in a commercial real estate investment fund and employed anywhere from 1,500 to 5,000 employees. In reality, iCore’s incorporation address was a shipping company store P.O. Box in Helotes and never employed more than half-dozen employees at any given time. In sum, the defendants defrauded investors of more than $2.1 million.
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