Daniel Imperato, who unsuccessfully sought the 2008 Presidential nomination of the Libertarian, Reform, Green and Constitution Parties, and ran as independent for Governor of Florida in 2010, has been accused by the US Government’s Securities and Exchange Commission of bilking gullible investors out of about $2.5 million US:
A West Palm Beach businessman defrauded investors of $2.5 million and used some of the cash to pay for his presidential campaign, the Securities and Exchange Commission said this week.
The SEC’s civil suit says Daniel Imperato, 53, schemed to portray his company, Imperiali of West Palm Beach, as a thriving organization “when in fact it was nothing more than a shell corporation.”
Imperato hired telephone salesmen and found 60 investors to buy stock in his company. The pitch sounded promising: Imperiali claimed to own a stable of television and telecommunications companies poised to generate $350 million in profits on $500 million in revenue in 2009.
“In reality, Imperiali’s portfolio companies had no operations, no products or services, and no revenue,” the SEC’s suit says.
H/T George Phillies