Darrell Arnold Aviss Indicted on Federal Fraud and Money Laundering Charges | Goodman & Nekvasil P.A. May Recover Investor Losses
A federal grand jury today returned an 11-count indictment that alleges a Santa Barbara man stole approximately $12 million from victims who were promised their money would be used to purchase annuities from Swiss insurance companies.
Darrell Arnold Aviss, 63, of Santa Barbara, was charged today with five counts of wire fraud and six counts of money laundering. Aviss was arrested June 18 pursuant to a criminal complaint, and he was subsequently ordered held without bond.
According to the indictment filed this afternoon in United States District Court, Aviss ran the scheme from at least 2012 through last summer, soliciting money from people who wanted to purchase annuities from insurance companies based in Switzerland. Aviss claimed the Swiss annuities he offered were safe and secure, and, in some instances, he allegedly told victims the annuities would pay interest rates ranging from 5 to 7 percent.
But, the indictment alleges, Aviss did not use the victims’ money to purchase annuities, even though he arranged for the victims to receive statements showing the purported value of the annuities, which the false documents showed were increasing over time.
Victims, most of whom were over the age of 60, gave Aviss more than $12 million, with most of that money coming from just one victim, according to court documents. Some money was paid back to victims to keep the scheme running.
Instead of purchasing annuities, Aviss allegedly used the victims’ money for his own purposes and to support his lavish lifestyle. Court documents indicate that he used the money for, among other things, Ponzi payments to victims, mortgage payments, luxury car leases, expensive watches, trips to Monaco, more than $100,000 in purchases at a Santa Barbara nightclub, and 20 tickets to a U2 concert and after-party.
An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.
Investors with Darrell Arnold Aviss May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested with Darrell Arnold Aviss, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.