Silver Law Group is investigating Bruce Kane, 60, formerly of Ithaca, New York and currently residing in Fort Lauderdale, FL; Burton Greenberg, 75, of Plantation, Florida; and Senol Taskin, 50, of Ontario, Canada for their alleged involvement in an investment scheme that defrauded investors out of $10 milion. All three men have been indicted by a federal grand jury in upstate New York on wire fraud charges. Kane and Greenberg were both arrested by the Federal Bureau of Investigation (FBI) in Florida earlier this week, while Taskin remains at-large and is believed to be living in Turkey.
According to the federal indictment, Kane — an accountant and the principal of a Florida-based investment partnership named Global Financial Fund 8 LLP — conspired with Greenberg — the President and CEO of both Transglobal Financial Services and M&P Global Financial Services Inc. — and Taskin to solicit investment funds that investors were told would be safely invested and held in American, Canadian, and Italian banks where they would generate significant profits as high as a 960 percent return on investment. Instead of investing the money in secure investments, the trio allegedly used the funds to pay off personal debts, pay rent on a waterfront condominium in South Florida, buy a boat, and make separate investments of their own. To avoid detection, Kane and Greenberg purportedly sent investors phony “profit” payments which were nothing more than partial returns of their principal investments. Additionally, Kane and Greenberg repeatedly assured investors by e-mail between 2004 and 2013 that their investments were secure and profitable, despite Kane and Greenberg allegedly knowing those assurances to be false. To assist in the conspiracy, Taskin purportedly provided Kane and Greenberg a phony Canadian bank statement to use at a meeting with investors so the investors would be lulled into believing their investments were secure when those funds had actually been transferred to a company co-owned by Taskin and used for his own personal or corporate purposes.
As set forth in court documents, Kane, Greenberg, and Taskin used over $6.1 milion of the funds for their own benefit — over $4.4 million of the money was diverted to bank accounts and companies controlled by Greenberg or his close relatives; approximately $1.6 million of the money went to Kane’s personal accounts and to pay for personal expenses of his such as credit cards, automobile and lease payments, and a boat and waterfront condominium he owned; and at least $240,000 of the victim investors’ funds were transferred to bank accounts in Turkey controlled by Taskin.
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