Parker was a well known Vermont storyteller in 1999 when he began raising money for a film he titled "Birth of Innocence."
establish how much Parker and Soteriou need to pay in restitution was not available when the two men were sentenced.
Malcolm "Mac" Parker and Louis Soteriou, the two men behind a $28 million movie fundraising fraud scheme that shortchanged hundreds of Vermonters, were expected to begin serving their prison sentences Tuesday in separate federal facilities. Tuesday afternoon.
filming aspects of the project. Investors were promised double digit interest payments on their money and provided periodic updates on the film's progress.
In 2010, the federal government began a criminal probe and, in August, raided Parker's home in Addison. The government later agreed to limit its prosecution of Parker, in exchange for a guilty plea and his cooperation in the investigation into Soteriou's conduct.
movie funding fraud begin prison sentences
which cost $1 Puma Shoes Black And Grey million to make, was never completed.
It remains unclear how much money is owed to the 437 investors who lost money in the fraud.
Over the course of the next 10 years, he oversaw both the fundraising and Puma Sneakers For Boys
Reiss, the federal judge, said at Parker's sentencing she wanted the matter resolved in 45 days. Pacht, Parker's lawyer, said he hopes to have a final accounting filed with the court "very soon."
Soteriou, a former Connecticut chiropractor, was Parker's spiritual mentor and the film project's silent partner.
Parker's sentence was 19 months more than what the government and Pacht had recommended to the judge. Pacht, on behalf of Parker, has appealed the sentencing decision to the 2nd Circuit Court of Appeals.
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The amount is estimated to be around $9 million, but a precise accounting that would Puma Green And Yellow Shoes
"He just hopes to make as much out of it as he can," Pacht said. "His biggest concern is while he's in jail he can't begin to meet his commitment to pay back lenders."
Soteriou's lawyer, Steven Barth of the federal public defender's office, did not respond to a request for comment. District Court in Rutland.
It is now the subject tug of war in federal bankruptcy court between Parker and a group of disgruntled investors who want control of the film so they can finish and release it in hopes of getting back some of the money they lost on the project.
Barth, noting that Soteriou has ongoing medical and mental issues, unsuccessfully sought to have Reiss sentence Soteriou to 30 months in prison. He did not appeal the sentence, however.
The financing scheme fell apart in 2009 when the state Banking, Insurance, Securities and Health Care Administration agency, now known as the Department of Financial Regulation, learned about Parker's fundraising methods and told him to stop.
Soteriou was charged with 18 criminal counts, including fraud and money laundering, in 2011. He pleaded guilty to two counts in April, avoiding a trial that was scheduled to begin later that month.
Unbeknownst to the investors, Parker at Soteriou's direction gave Soteriou $4 million of the investors' money to fund a spiritual quest that was supposed to result in Soteriou being able to "pop," or transport himself through space and time to other realms.
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