The Federal Bureau of Investigation (FBI), Miami Field Office, announced that Scott Haire, 48, a resident of Coral Springs, Florida, pled guilty yesterday to conspiracy to commit securities fraud in violation of Title 18, United States Code, Section 371, in United States v. Scott Haire and Douglas Martin, Case No. 12-Cr-60133-Williams(s).
Haire is the former CEO of Wound Management Technologies Inc. and the former CFO and Chairman of VHGI Inc. Scott Haire was captured on video and audio recordings engaging in securities fraud during an undercover FBI operation. Haire discussed his football career at the University of Kentucky before turning to fraud on the video.
According to court documents, Haire bribed a pension fund fiduciary to induce the fiduciary to invest in Wound Management in violation of the pension fund fiduciary’s obligation to act in the best interest of the pension fund’s beneficiaries. In addition, Haire bribed a stock broker to invest money from his client’s discretionary accounts, in violation of the stock broker’s obligation to act in the best interest of his clients. Haire agreed that he conspired with Douglas Martin, a conspirator who previously pled guilty, to inflate the volume and stock of VHGI, a publicly traded company.
37 individuals have been convicted as part of the FBI’s undercover operation in this and related cases.
If you were sold VHGI stock by Douglas Martin and experienced financial losses, call Soreide Law Group for a free consultation with an attorney at: 888-760-6552.
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