Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Largest Alleged Ponzi Scheme Ever Prosecuted in WA Brews in Seattle

Authorities say something is brewing in Seattle-and it isn't coffee.

Frederick Darren Berg is being tied to an alleged financial fraud that is being called the biggest Ponzi scheme ever prosecuted in the state of Washington.

In a statement highly reminiscent of the usual Ponzi patterns, alleged victim Ron Neubauer said, "My oldest friend was getting checks every month - 10 percent, I think, and for years." Neubauer first invested his money in Berg's Meridian Group in 2006, and is a former federal prosecutor.

Berg, 48, is the CEO and founder of Meridian Group, a mortgage-based business. He stands accused of defrauding investors of more than $100 million between the years of 2003 and 2010 through the Seattle-based company.

Prosecutors contest that Berg spent millions of dollars intended for client investments on personal use and a lavish standard of living, including a ritzy Mercer Island mansion valued somewhere in the range of $10 million and two personal jets.

Investors and authorities are left asking how the scheme could have possibly hoodwinked so many, so thoroughly, and for so very long.

In interviews before his arrest last year, Berg stated, "It's really hard to identify where it crossed that line. We certainly didn't intend for that to happen."

Thus far, Berg has pleaded not guilty to the charges.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram