Report: Former CEO charged in fraud could face $200M in legal claims
Chris Roglieri served as the CEO of Prime Capital Ventures, and is currently in jail.
A former CEO of a financial company could be facing more than $200 million in legal claims from former clients and creditors.
Kris Roglieri had served as CEO of Prime Capital Ventures. He was arrested in May and charged with wire fraud. The Times Union reports that he could be hit with hundreds of millions of dollars in claims.
Authorities had originally estimated his fraud to be closer to $100 million.
Prosecutors said Roglieri, of Queensbury, misused hundreds of thousands of dollars of a client’s money on personal expenses. This included a gold watch and a lavish vacation.
Roglieri is currently in jail after making threats to an FBI agent and court staff.