Two Feathers Sentenced To Six Years In Prison
Dan Two Feathers [pictured] was sentenced to six years in an American jail for his part in a Ponzi scheme that used accounts in places including Bermuda and Switzerland. Two Feathers was also mandated to pay back nearly $2.5 million in restitution.
In March of this year Mr Two Feathers, 56, pled guilty to conspiracy to commit investment fraud, investment fraud, receipt of stolen property in interstate commerce, and money laundering.
Using a front company called TLT Holdings, Mr Two Feathers told investors that his program was producing very large rates of return buying and selling U.S. Treasury Bonds.
TLT Holdings had accounts at the Bank of Bermuda, the Bank of New York [through an intermediate institution called EKN Financial], and at D.A. Davidson in Montana
This isn’t the first time Mr Two Feathers has been in legal trouble. In 1999 Mr Two Feathers — then known as Dan Latham — was sentenced by a federal court in New York to 41 months in prison and was ordered to pay $5,162,558 in restitution. The sentenced was handed down after he was convicted of using two sham Manhattan companies to convince victims that an overseas lender would finance their loans.
Bermudian Andre Curtis has also been linked to the scheme. Mr Curtis was previously fined $335,000 by the Montana Commissioner for his role in the Ponzi scheme, and is presently serving a 15 month jail sentenced in Bermuda after he admitted operating Harvest Investment Holdings Ltd. without a licence.
One legal document relating to the case [PDF] said, “Two Feathers introduced Schultz to Andre Curtis as the account manager for a $200,000 investment by Schultz’s Big Sky Equity company. This investment was orchestrated by Two Feathers.
“Schultz accepted Two Feathers’ opportunity to wire $200, 000 to the Bank of Bermuda and into a Harvest Investment Holdings investment account for Two Feathers to invest in Two Feathers’ program. Schultz understood Curtis was to help Two Feathers organize the establishment of this investment program.”
- Photo courtesy of KAJ18
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