Kris Roglieri, arrested; denied bail as a community threat

In a recent ruling on June 3rd, Kris Roglieri was denied bail, deemed by the court as "a danger to the community."

This decision followed closely after a bankruptcy court declared that Roglieri's assets could be seized to settle debts exceeding $3 million.

His financial issues have led to him being represented by a public defender. Shortly after the bankruptcy decision, the FBI arrested Roglieri for wire fraud, a move anticipated due to ongoing accusations and his financial instability.

The charges against Roglieri stem from a fraudulent deal involving 1800 Park Avenue LLC. Roglieri's company, Prime Capital, had promised to provide a $98 million credit line to 1800 Park Avenue LLC with an initial $5 million interest credit account payment, despite requesting $10 million.

Unbeknownst to 1800 Park Avenue LLC, Prime Capital was undergoing forced bankruptcy proceedings for failing to honor previous credit agreements, amounting to millions in unpaid debts.

As a result, the promised funds were never delivered to 1800 Park Avenue LLC, which has yet to recover its initial payment despite discovering Prime Capital's bankruptcy status.

Our Opinion:

Kris Roglieri's arrest for wire fraud and attempt to secure a $98M credit line during bankruptcy proceedings highlight his unethical practices. This lack of transparency and willingness to mislead clients is unacceptable. His failure to fulfill millions in credit deals with previous clients underscores the need for integrity and transparency in the industry to prevent such incidents and maintain trust with clients.

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