Florida Office of Financial Regulation

News Release: Duo to Serve Time for South Florida Investment Scam


For Immediate Release                               
Tuesday, November 1, 2016
Media Contacts:
Jamie Mongiovi (850) 410-9709
Katie Norris (850) 410-9826
Twitter: @FlFinancialReg

Duo to Serve Time for South Florida Investment Scam
Tallahassee, Fla. – The Florida Office of Financial Regulation (OFR) announces the sentencing of Abraham Shraga Gutterman for his role in a fraudulent precious metals and stock offering scheme. Gutterman was sentenced on October 27, 2016, by a federal court in Miami to serve 55 months of incarceration followed by 24 months of supervised release. He was also ordered to pay $605,900 in restitution to the victims. Gutterman has been held in Miami without bond since he was first arrested in June 2016 by Panamanian authorities due to an outstanding international arrest warrant issued by the United States Department of Justice.
“The Florida Office of Financial Regulation is committed to ensuring Floridians’ finances are safe and secure,” said OFR Commissioner Drew J. Breakspear. “We are pleased with the outcome of this case, and will continue to seek justice for those impacted by these crimes.”
Beginning in January 2010, Gutterman conspired with co-defendant Walter Caceres to swindle investors by making material misrepresentations in connection with their company, Venture Trading and Investments, LLC. Investors were solicited by telephone calls where Gutterman and others used various aliases to explain how investors could make money by purchasing gold or pre-IPO stock in his company, which he projected to triple once it went public. Bank records showed that the investors’ money was not used to purchase any gold or pre-IPO stock.
Prior to Gutterman’s sentencing, co-defendant Walter Caceres was sentenced to 30 months in prison followed by three years of probation, and was ordered to pay a total of $605,900 in restitution to the victims.
The OFR was the lead investigative agency in this case. The OFR appreciates the assistance of the Federal Bureau of Investigation and United States Attorney's Office for the Southern District of Florida, including United States Attorney Wifredo A. Ferrer and the assigned prosecutor, Assistant United States Attorney H. Ron Davidson.
For helpful tips on avoiding investment scams, please check out the OFR’s Consumer Knowledge Center.
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