Man in fraud case gets released
By Peter Boylan
Advertiser Staff Writer
By Peter Boylan
A Honolulu man accused of trying to bilk an investor out of $100 million was released from federal custody yesterday after his parents put their house up for forfeit in the event he tries to flee the state.
Syed K. Qadri, 33, and his wife, Patricia M. Roszkowski, were indicted on four counts of wire fraud along with Jeffrey Greenhut and Ruben Carrillo Gonzalez on Aug. 31. Qadri was released yesterday into the custody of his father, Sayed Tahir Qadri of Haymarket, Va., after he posted a $500,000 bond tied to the elder Qadri's home.
Assistant U.S. attorney Chris A. Thomas, who is prosecuting the case, declined comment, citing an ongoing criminal investigation.
Roszkowski was released Aug. 31 after posting a $100,000 bond. Greenhut has been released in San Diego, and Gonzalez remains in custody in Arizona.
"We are looking forward to proving our innocence," said Roszkowski, in an interview outside of court last week.
Roszkowski and Qadri are forbidden from working with investments, leaving the island of O'ahu, or contacting former investors or other company employees.
According to the indictment, the couple used two companies — Amasse Capital LLC and Solomon & Co. — along with a false prospectus filed with the Securities and Exchange Commission to create the illusion they were at the helm of several high volume securities trading firms in a high-yield investment scheme.
Qadri, Roszkowski and Greenhut claimed to have more than a decade of experience in international finance, mergers and acquisitions, securities trading venture capital and asset management. According to the indictment, none of them had any of the experience they claimed. And none are licensed to trade securities in Hawai'i, according to the state Department of Commerce and Consumer Affairs.
As part of the alleged scheme, the couple told an investor they traded an average of $500 million every two days and up to $10 billion in volume per month. The investor was told his $100 million investment was guaranteed and risk-free, and that he would receive annual returns of at least 60 percent with the possibility of 100 percent to 400 percent monthly rates of return, according to the indictment.
Reach Peter Boylan at firstname.lastname@example.org.