Bay Village man charged with embezzling $505k, tax evasion

3:52 PM, Mar 15, 2013   |    comments
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CLEVELAND -- A Bay Village man was charged via criminal information with mail fraud and tax evasion.

Frederick C. Bryant, 45, is accused of embezzling $505,832 from a victim that he guaranteed a 5 percent rate of return.

According to the information, between September 2008 and January 2010, Bryant had the victim transfer investments from an account at Fidelity Brokerage Services to Global Venture Fund.

Bryant incorporated the GVF in Ohio in September 2008.

The stated purpose of GVF was to save tigers from extinction and to seek funding to help preserve endangered tigers on a global level.

The victim was unaware of the stated purpose of GVF.

According to the information, Bryant converted the money for his own personal use and failed to report the funds to IRS.

WKYC-TV

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