February 6, 1994 |
Two weeks after defunct FundAmerica Inc. settled a criminal probe by Florida authorities, it was revealed that a Los Angeles federal grand jury is probing a possible case against the firm's founder, according to court documents. Court papers filed in U.S. Bankruptcy Court in Santa Ana, where the company was ordered liquidated almost three years ago, reveal that a grand jury is mulling possible criminal charges against Robert T. Edwards, who owns residences in Newport Beach and Vancouver, Canada.
August 12, 1990 |
Ever since losing $200 in a film-processing scam as newlyweds, Paul and his wife promised each other they would always sleep on a major decision to spend money. For 13 years, they kept that promise. But then a representative of Irvine-based FundAmerica Inc. made them an offer they couldn't refuse. On a neighbor's assurance that it was a sure-fire investment, the couple forked over $3,200 to FundAmerica for 40 memberships in April.
January 26, 1994 |
A company accused of defrauding investors has pleaded no contest to a single felony charge in a deal with Florida prosecutors. The company, Irvine's defunct FundAmerica Inc., must pay a $200,000 fine but avoids a criminal trial. Florida's attorney general contended that FundAmerica was a pyramid scheme--a company that spent more time signing up new members for a fee than actually selling products.
July 20, 1990 |
The top executive of Irvine-based marketing firm FundAmerica Inc. was arrested Thursday on fraud charges in connection with a Florida investigation into whether the company ran an illegal pyramid scam, Florida regulators said. Robert T. Edwards, president of FundAmerica, was arrested in Wilmington, Del. He is being held on charges of criminal organized fraud and unlawful lottery activity, said Joe Bizzarro, spokesman for the Florida Attorney General's Office.