Kari Sonovich of B&B Consulting Group LLC Arrested for Fraud
Kari Sonovich, a 42 year-old resident of Meadow Vista, California was arrested on charges of mail fraud in relation to the loss of more than $3 million of investor money. A federal grand jury returned a 3-count indictment on mail fraud charges prior to her arrest.
Sonovich allegedly recruited investors to her company B&B Consulting Group LLC between 2008 and 2009. She allegedly claimed that she would invest their funds with an international trader who operated at an extremely high level. The trader, Sonovich claimed, offered returns of up to 500 percent every 90 days, according to court documents.
Whenever she was able to convince investors to part with their money, Sonovich kept most or all of the funds for her own use, according to court documents. No investor has received the promised returns and in most cases, no investor has received any part of the initial investment back according to court documents.
The case was the result of an investigation conducted by the Internal Revenue Service-Criminal Investigation unit. Assistant U.S. Attorney Jean Hobler is the lead prosecutor in this case
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.