Man Arraigned On Charges He Scammed Investors Out Of $96M

SHREVEPORT, La. (AP) — A Louisiana man has pleaded not guilty to charges he scammed investors and banks out of more than $96 million in a scheme that allegedly included his use of a disguise and a professional makeup artist.

David deBerardinis remained free on bond following his arraignment Monday at the federal courthouse in Shreveport.

KTBS-TV reports that the 56-year-old businessman wasn't arrested after his Jan. 25 indictment on four counts of wire fraud and one count of attempted bank fraud.

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The indictment says deBerardinis used false identities and phony bank statements to perpetuate a fraud scheme that began in 2008 and lasted until at least July 2016. The document doesn't elaborate on how deBerardinis allegedly used a makeup artist and disguise to solicit funds from a New York private equity group.

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