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Lev Parnas and David Correia Charged With Conspiring to Defraud Investors With ‘Fraud Guarantee’ Business

The two associates of Rudy Giuliani allegedly duped investors out of well over 2 million dollars.

Lev Parnas and David Correia, former associates of Rudy Giuliani who were at the heart of President Donald Trump’s impeachment scandal, were charged Wednesday with conspiring to defraud investors via an insurance company titled “Fraud Guarantee.” From 2012 to 2019, the two allegedly misrepresented themselves to financial partners and embezzled the money invested in Fraud Guarantee for their own personal use and for political donations. Prosecutors say they duped investors out of more than 2 million dollars. The company never began operations, according to the Department of Justice, and Parnas and Correia even allegedly went so far as to say they themselves were not taking salaries. Each is also charged with lying to the Federal Elections Commission and falsifying records. Their trial is scheduled for February 2021. Parnas, Correia, and others were previously charged with conspiracy to violate political donation regulations. The indictment returned Wednesday adds to those charges.