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In a declaration filed today (Dec. 10) with U.S. District Court Judge Irma Gonzalez, attorney John Lemon, attorney for Alfred Louis "Bobby" Vassallo, said he had talked with David Brown of the Securities and Exchange Commission and Phil Halpern, assistant U.S. attorney. Vassallo is "extremely likely to be indicted for fraud related charges," wrote Lemon. The indictment would "contain conspiracy charges" dating back to Presto Telecommunications, in which Vassallo fleeced a number of San Diegans. In 2005, the SEC enjoined him from committing securities fraud, and he was told to pay the agency $2 million. The SEC showed how Vassallo went on to other telecommunications scams -- telling investors their money would go into equipment and then steering the money into his own posh lifestyle. He never paid the money owed the SEC. Gonzalez has warned him that he could be held in criminal contempt of court. That is separate from this action.

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misspentyouth Feb. 4, 2011 @ 9 a.m.

It's now February and nothing has transpired with Mr. Vassallo. SEC and US attorney have a strong case, but are they deal making now. Will Mr. Vassallo ever appear in court for either the civil or criminal complaints he has been charged with ? Or will he just continue with what he does, rob people of their money and live to tell about it.


Don Bauder Feb. 4, 2011 @ 10:33 a.m.

The SEC has been moving right along. I just don't post something on every move made in court. Best, Don Bauder


SurfPuppy619 July 8, 2011 @ 9:59 p.m.

It's now February and nothing has transpired

The US Attorney for the Central District "Andre the IDIOT" as I call him, is a complete buffoon...........reminds me of Alan Bersin.


misspentyouth July 8, 2011 @ 5:11 p.m.

US District Court for the Central District of California - Southern Division Grand Jury, on July 6th 2011 handed down an indictment charging Alfred Vassallo, AKA Bobby Vassallo with federal wire fraud charges (1-3)Case#8:11-cr-00150-UA...


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