PHILADELPHIA, PA — United States Attorney Jacqueline C. Romero announced Friday that an indictment has been unsealed against Josh S. Verne, 47, a former resident of Gladwyne, PA, now residing in Fort Lauderdale, FL. Verne faces 28 federal charges, including securities fraud, wire fraud, aggravated identity theft, witness retaliation, and witness intimidation.
The indictment details allegations that Verne engaged in various fraudulent schemes from 2017 to 2020. He is accused of defrauding investors, employees, and business partners out of millions of dollars. Verne allegedly forged documents and obstructed justice by threatening and intimidating those involved in the federal investigation.
Prosecutors allege that Verne portrayed himself as a wealthy entrepreneur and investor, using limited liability companies under his control to conduct fraudulent activities. He is accused of making false claims about his business successes, personal net worth, and the financial health of his companies to lure investments and loans.
One notable allegation involves Verne providing a forged Goldman Sachs statement to an investor, falsely showing over $50 million in family investments. In reality, Verne did not hold any investment accounts with Goldman Sachs.
The indictment further alleges that Verne misappropriated business and investor funds for personal use, including renovating his Jersey shore vacation property, traveling on private jets, and making personal charitable contributions. Verne is also accused of sending false bank and FedEx confirmations to investors to delay the discovery of his misconduct.
Another serious allegation includes Verne stealing the identity of a former employee by forging the employee’s signature on a sales agreement. He allegedly obtained $150,000 from this unauthorized sale, using the funds for personal gain and to repay a prior investor.
After learning about the federal investigation, Verne allegedly contacted the former employee and threatened to reveal false, embarrassing information about them to obstruct justice.
Verne was arrested in Fort Lauderdale and is expected to appear in federal court in Philadelphia next week for arraignment. If convicted, he faces a maximum sentence of 532 years in prison, including a mandatory minimum of two years, three years of supervised release, a $21,250,000 fine, and a $2,800 special assessment.
Anyone who believes they may have been a victim of Verne’s alleged actions is encouraged to contact the FBI at 215-418-4000, referencing “Josh S. Verne.”
The case was investigated by the FBI and is being prosecuted by Assistant United States Attorneys Paul G. Shapiro and Jerome M. Maiatico. The SEC’s Philadelphia Regional Office is also pursuing civil securities fraud charges against Verne.
An indictment is merely an accusation, and all defendants are presumed innocent until proven guilty in a court of law.
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