Delay Sought In Trial For Alleged Ponzi Scheme
BALTIMORE (AP) — A Walkersville man charged in an alleged Ponzi scheme is seeking postponement of his trial in U.S. District Court in Baltimore.
A hearing is set for Tuesday afternoon.
Defendant Larry Parrish is requesting copies of emails in which he allegedly communicated with a government witness who handled deposits and withdrawals from a Bermuda bank account.
Parrish’s lawyers say that obtaining the emails and related bank records will require postponement of a trial currently set for June 17.
Parrish is free on bond. He is accused of illegally obtaining $9.2 million from about 70 investors in his IV Capital fund.
Parrish has pleaded not guilty to the charges.
Prosecutors say he promised annual returns of at least 60 percent but paid investors with money he got from newer clients.
(Copyright 2013 by The Associated Press. All Rights Reserved.)