© 2024 Western New York Public Broadcasting Association

140 Lower Terrace
Buffalo, NY 14202

Mailing Address:
Horizons Plaza P.O. Box 1263
Buffalo, NY 14240-1263

Buffalo Toronto Public Media | Phone 716-845-7000
WBFO Newsroom | Phone: 716-845-7040
Your NPR Station
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

"Operation Broken Trust" cracks down on investment fraud

U.S. Attoreny of Western District, William Hochul
WBFO News file photo
U.S. Attoreny of Western District, William Hochul

By Eileen Buckley


Buffalo, NY – The U.S. Attorney General announced the success of "Operation Broken Trust",a nationwide operation that targeted investment fraud.

The Financial Fraud Enforcement Task Force in Buffalo has cracked down on a number of cases in the region.

In Buffalo, U.S. Attorney William Hochul announced results as part of area investment fraud cases.

In this region there were eight cases that involved 12 defendant. Over 950 area victims were defrauded out of a total of more than $70-million dollars.

One of the most recent local cases involved 23 year Michael Wilson of Hamburg. He was charged with multiple counts of wire fraud, conspiracy, and money laundering, in connection with a scheme to defraud 12 investors out of $8-million.

Operation Broken Trust started this past August. Nationwide it has uncovered more than 120,000 victims in the U.S.