Tech CEO added to FBI's Most Wanted Fraudsters list; what 'Lookout' notice says
The FBI has issued a 'Lookout' notice and a $150,000 reward for Bernhard Eugen Fritsch, a tech CEO convicted of defrauding investors of $26.8 million. Fritsch fled the U.S. before sentencing and is believed to be hiding in Munich, Germany.
Why it matters
This case highlights international law enforcement cooperation in tracking high-profile white-collar criminals who flee justice.
The FBI has added Tech CEO Bernhard Eugen Fritsch to its list of Most Wanted Fraudsters list, and the agency has now issued a “Lookout” notice detailing the case against him. Fritsch, the founder and CEO of Santa Monica-based StarClub Inc., was found guilty of defrauding investors in a case involving more than $26.8 million in losses. The FBI says Fritsch fled the United States before he could be sentenced, later travelling from Mexico to Germany. He was sentenced in absentia to 15 years in federal prison and ordered to pay more than $26.8 million in restitution. The FBI is offering up to $150,000 for information that leads to his arrest and conviction. The “Lookout” notice provides details about his case, the charges against him and his movements after leaving the US.Here’s what FBI’s lookout notice for Bernhard Eugen Fritsch saysDESCRIPTIONAliases: Bernhard Fritsch, Bernhard E.
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