Stephen Gibbons, Assistant District Attorney CONTACT PERSON:
Dave Campagnolo, Lead Investigator
Economic Crimes Unit
(408) 792-2626 For Release on July 23, 2003 SAVVY INVESTOR HELPS CAPTURE DEFENDANT WANTED ON SECURITIES FRAUD CHARGES On January 9, 2003, the Santa Clara County District Attorney’s Office filed a seventeen count complaint charging Wayne Keith Richardson (Age 46) with grand theft and securities fraud in connection with a stock scheme that defrauded two elderly victims out of $75,000. Although a three million-dollar arrest warrant was issued by the Santa Clara County Superior Court, the defendant remained at large until he contacted a new investor in Michigan about a new investment. When the new investor researched Richardson on a website maintained by the California Department of Corporations, he learned that Richardson was the subject of several cease and desist orders obtained by the California Department of Corporations. The investor contacted state and federal authorities who then contacted the District Attorney’s Office. With the help of the investor, a meeting was arranged in Los Angeles. When Richardson showed up for the meeting US Marshals arrested him. He is expected to appear in Santa Clara County Superior Court later this week. Richardson also has criminal securities fraud cases pending in Santa Cruz and Placer Counties and additional victims have been identified in at least 8 other states. The California Department of Corporations estimates the total loss attributable to Richardson’s fraudulent activities at 3.5 million dollars. Richardson faces up to 6 years in prison and ten million dollars in fines on the Santa Clara County charges. For additional information contact: District Attorney Investigator David Campagnolo at (408) 792-2965.