Illinois Man Accused of Wire Fraud by Federal Prosecutors

In late December of 2011, Steven Salutric of Illinois was accused by federal prosecutors of wire fraud in regards to investor scams that resulted in approximately $4 million in losses to clients.
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Feb. 6, 2012 - PRLog -- Thought to be a Ponzi scheme, Salutric took the funds from clients without permission, forging clients' signatures on withdrawal documents.  Clients were unaware of this at the time, as Salutric was taking money from client accounts and placing it into other clients' accounts so that it appeared they were profiting.

According to the government, Salutric was investing in businesses and companies including car dealerships, restaurants and a movie production business, companies that he had personal ties to.  He was using client money to make these personal investments.  He now faces a $250,000 fine and up to 20 years in prison for this scheme.

Individuals who have been victims in these types of Ponzi schemes or any type of investment fraud should consult with an experienced investment fraud attorney (  Many people invest to ensure their financial future as they approach retirement, or to fund their children’s college tuition.  A capable investment fraud lawyer ( can help investors who have suffered losses recover a portion or all of their money through arbitration, mediation or litigation claims against brokerage firms, stockbrokers or other advisors who have misled them.

When investors have been made the victim of fraudulent activity by brokers, it is important to hold those brokers and/or their firms accountable.  You may have been the victim of deceptive trade practices, or invested in stocks/bonds and sustained losses that you suspect are due to unscrupulous actions on behalf of your stockbroker or financial advisor.  While some losses are not due to fraud, many are.  Most investors realize that investing in securities, bonds, stocks and other areas is risky, and never guaranteed; however, you do not expect to be taken advantage of by those you trust to guide you in smart and profitable investments.  Only a skilled and knowledgeable investment securities fraud attorney can help determine if you have been scammed, and what legal action is available to help you recoup your losses.

Cases involving investor fraud are often very complex in nature; it is difficult if not impossible for most individuals to protect their rights without legal counsel.  If you have been the victim of fraudulent activity or scams that have resulted in financial loss, consult with a capable investment securities fraud lawyer at once for advice and guidance.

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Article distributed by Joel McLaughlin. These press releases are used to help inform the public of new valuable information relating to several different industries.
Source:Joel McLaughlin
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Tags:Securities, Attorney, Fraud, Lawyer, Securities Fraud, Investment Fraud, Investment
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