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John Thomas Childs IV, 46, was booked into the Baldwin
County
Corrections Facility on Wednesday, Dec. 11, 2013. (Courtesy of
theBaldwin County Sheriff's Office)
California man accused of defrauding a convicted Baldwin
County fraudsterTheresa Seiger | [email protected] By Theresa
Seiger | [email protected]
Email the author | Follow on Twitter
on December 13, 2013 at 5:22 PM, updated December 13, 2013 at
7:47 PM
ROBERTSDALE, Alabama -- A California
man is facing charges in Baldwin County,
accused of defrauding a man previously
convicted on 13 counts of similar charges,
according to the Alabama SecuritiesCommission and court
records.
John Thomas Childs IV, 46, of Danville,
Calif., turned himself into the Baldwin
County Sheriff's Office on Wednesday,
according to ACS. He is facing two counts
of fraud in the sale of securities.
The charges stem from January 2009,
according to court records, when Childs
accepted investor funds gathered through
a Robertsdale man identified as Richard
James Tucker and his business, Synergy
Finance Group, LLC, as part of a "prime
bank" investment scam.
Tucker was found guilty in 2012 of13
charges related to securities fraud,
according to court records.
The U.S. Department of the Treasury describes prime bank
investment programs as those which "offer
secret, private investment markets, which purport to offer above
average market returns with below market
risk through the trading of bank instruments."
The Department says such programs are non-existent, as are the
"secret markets" from which schemers say
banks trade securities.
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Childs was indicted on both counts in November, officials with
ASC said. Court records show Childs allegedly
took broker fees from investment funds supplied by Synergy
Finance Group, LLC, without telling the
company. The money was then used for unspecified "non-investment
purposes."
It's unclear how much money was allegedly lost in the
scheme.
According to records from the California Secretary of State,
Childs is the listed agent for A-Z Consulting, LLC,
a company registered in the Golden State since 2010. He lists
his home address as an apartment in Dublin,
Calif., according to records from the Baldwin County Corrections
Facility. A-Z Consulting LLC is registered in
nearby Danville, Calif.
Childs was released on a $100,000 cash bond shortly after his
arrest. Various conditions were placed on his
bond. Among other things, Childs was required to surrender his
passport and stay in Alabama unless the
court allows him to leave.
He is scheduled to be back in court in January 2014 for an
arraignment.
2014 AL.com. All rights reserved.
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