Guilty Plea in Investment Scheme: A Venice...
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Guilty Plea in Investment Scheme: A Venice man pleaded guilty Thursday in federal court to bilking elderly investors out of more than $300,000 after the stock market crash in October, 1987. Assistant U.S. Atty. David A. Katz said John Ernest Giovanoli, 28, was soliciting investments in coins through a “boiler room” telephone-sales scheme. After the crash, he persuaded investors to send him their coins with a promise they would be sold at a profit in the frenzied market. But Katz said Giovanoli pocketed the money.
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