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Lori Ann Nademus of Bradenton has been sentenced to nine years and two months in prison for her role in an investment fraud and money laundering scheme that authorities say netted her nearly $10 million in illegally obtained funds.
Nademus, 46, pleaded guilty to wire fraud and money laundering March 17. In addition to the federal prison time, U.S. District Judge James S. Moody ordered Nademus to forfeit a 10-carat white gold and diamond wedding ring and a stainless-steel TAG Heuer watch, which, according to a statement, are traceable to proceeds of the offense. She was also ordered to forfeit $9.75 million, “the proceeds of the wire fraud scheme,” states the release from the U.S. Attorney’s office for the Middle District of Florida, based in Tampa.
According to court documents and federal authorities, here's what happened:
Between February 2017 and September 2020, Nademus solicited individuals to invest in false and fraudulent high-yield investment programs.
Using these purported foundations, Nademus falsely and fraudulently represented that the victim-investors’ funds would be used for various projects, the release states, “such as providing clean water to a third world country, purchasing a trust in Liechtenstein at a cost exceeding $1 million, leveraging a gold mine for investment and liquidating a multimillion dollar investment, and that the victim-investors would realize nearly immediate, significant and ongoing gains by providing bridge financing.
Nademus communicated that the investments were safe for various reasons, including that the investments were secured by millions of dollars of assets held by her "Teras Foundation Investments." Nademus memorialized the phony investment opportunities presented to victim-investors in so-called promissory notes, balloon promissory notes and/or memos of understanding, officials alleged.
She caused the victim-investors to transmit their funds, often via interstate wires, to accounts in the names of the Dunamis Foundation, Teras Foundation or an attorney’s Interest on Trust Account account.
But the investments were bogus, authorities alleged and Nademus later admitted with her guilty plea.
Nademus used nearly all of the funds for international travel, luxury residences, high-end retail purchases of clothing, jewelry and other items, and for her own personal enrichment, officials contended. “When she failed to pay the victim-investors their supposed gains in a timely manner, Nademus endeavored to assuage their concerns by promising a higher return at a later time to lull them into a false sense of security,” the release states.
The FBI investigated the case. Assistant U.S. Attorneys Tiffany Fields and Rachelle DesVaux Bedke prosecuted the case.
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