Stemming from a recent federal indictment on multiple counts of mail and wire fraud, a Canton man was detained by the United States Secret Service at his home May 18 per the order of an arrest warrant issued by the Tampa Division of the U.S. District Court.
Derick Coles was released from an Atlanta jail June 1 after his wife posted a $35,000 cash bond, court documents show.
Conditions of his release ordered Coles to surrender his passport and to not leave the Northern District of Georgia to go to the Middle District of Florida without first advising pretrial service officers about his plans.
Coles also is under “home detention,” meaning he cannot leave his Canton home unless for circumstances outlined by the court including, employment, education, religious services and attorney visits, to name a few.
While the Northern District Court of Georgia has closed its case against Coles, court documents show that charges still are pending within the Middle District Court of Florida.
According to the federal indictment, Coles, as well as other unnamed parties, used his Sarasota, Fla.-based company, New Horizons Group LLC, to defraud individuals under the false pretense his company, for a fee, would facilitate the application process for acquiring permanent residence visas.
The indictment also states that the clients were led to believe this “fee” would be held in an escrow account, with no one having authorization to access the funds without the customer’s approval.
Between April 2008 and January 2009, the indictment alleges that Coles deposited the victims’ funds into the said account, of which he had sole authority.
By use of this regular business checking account, which reportedly was characterized as the escrow account, Coles allegedly defrauded his clients by using the funds for his own personal gain and benefit.
According to counts one through three of the indictment, on July 16, 2008, Aug. 19, 2008, and Nov. 5, 2008, Coles committed mail fraud (violation of Title 18 of Sections 1341 and 2 of the U.S. Code) by accepting checks in the amount of $250,000, $155,000 and $75,000, respectively.
The checks reportedly were payable to New Horizons Group Escrow Account “For EB 5 Investment Green Card.”
Coles also was federally indicted on two counts (four and five) of wire fraud after he allegedly transferred funds in the amount of $530,000 from an account in the United Kingdom to the checking account for New Horizons Group LLC on Aug. 12, 2008.
According to count five, Coles also committed wire fraud after e-mailing one of the victims urging them to: “ignore any future calls” suggesting that he scammed them. Coles reportedly also suggested the victims “do not get into any conversations” with parties warning them otherwise “for obvious reasons.”
The public is reminded that Coles is presumed innocent until the government proves his guilt beyond a reasonable doubt.
Mentions
States
- Georgia
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.
