Between 1995 and 1999, Bartoli operated Cyprus Funds, an Ohio-based company incorporated in Central America and South America. It allegedly sold certificates of deposit and unregistered mutual funds to about 800 investors, including retirees. But rather than invest the money, he allegedly funneled it back into his own business interests or used it to support his lavish lifestyle.
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A warrant for his arrest was issued by the U.S. District Court for the Northern District of Ohio, Eastern Division, on Oct. 15, 2003. Charged in a 10-count federal indictment included conspiracy, securities fraud and money laundering.
In a press release, Special Agent in Charge Stephen D. Anthony, of the FBI's Cleveland field office, acknowledged the role of international law enforcement in capturing Bartoli.
"A team of Cleveland and international FBI resources worked closely with the Peruvian authorities to locate and apprehend Eric Bartoli," he said. "We hope that the long-awaited prosecution of Bartoli will provide some satisfaction to the many individuals he defrauded."
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