Crime & Safety
Newport Man Charged in Investment Scheme
A grand jury charges William Knox with securing millions of dollars in investments for his company, and blowing it in Las Vegas.
A Newport Beach man is accused of securing millions of dollars in investments for his dental equipment company, and blowing the money in Las Vegas and on his children's private school tuition, the Daily Pilot reported.
William Knox was indicted on Dec. 4 and charged with six counts of wire fraud for taking out loans to fund Osseous Technologies of America, his Newport Beach dental equipment business, and spending the money on gambling in Las Vegas and paying for his children's school tuition, the newspaper reported.
According to the federal indictment, Knox raised about $3.5 million, $200,000 of which was from a victim in Laguna Beach.
FBI agents planted a hidden recorder on one of his alleged victims, according to the Daily Pilot, which recorded Knox saying he gambled away the investment money and was contemplating suicide.
Knox pleaded not guilty on Dec. 9 and posted $125,000 bond.
Read the full story on the Daily Pilot.
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