The owner of multiple Albany businesses who's already being charged
with fraud now going through bankruptcy proceedings.
Yeah. The suspect accused of accepting loans from companies around
the country,
then holding out on those borrowers.
News today B CS Anthony Kolikowski has been looking into
it.
Joins us live in the studio breaking down the allegations
of what happens now.
Anthony John and Trish know the CEO of Prime Capital
Ventures filed for Chapter 11 bankruptcy back in February.
Court documents show Chris Roglieri owes just under 3 million.
To 8 creditors. In addition to the bankruptcy case,
civil cases detail multiple other plaintiffs who say they did
not get their loans after paying upfront interest.
Documents say Roguely Area disclosed on a bankruptcy form that
he's in multi $1,000,000 debt for loans,
taxes, legal services and fees.
More than $700,000 is from the COVID-19 Economic Injury Disaster
Loan Program,
along with almost $450,000 in event fees at Caesar's Entertainment
before running out of money.
And his company, Prime Capital,
were taken to civil court for multiple accusations of fraud.
Three companies allege they spent 10s of millions of dollars
combined for their upfront interest payments.
In return, hundreds of millions of dollars in loans were
never accounted for.
Documents show one of these companies paid Prime Capital $20
million for a $107 million loan.
That never happened. The company did get the money back
as a default judgment when Rogue Liari failed to show
up in court.
The same thing happened in another case.
Except as of March, the company has yet to get
its money back,
bankruptcy documents say. Rogue Leary estimates his assets are worth
10 million to $50 million.
His liabilities could be up to $10 million.
The bankruptcy case could be finalized as early as next
month,
but in the meantime, Roguiaries Estate will be sold at
auction.
The Saratoga Automobile Museum will be in charge of the
auction and plans to meet with us.
We'll have that part of the story later this week.
Reporting live in studio Anthony Krulekowski,
News 10 ABC.