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Gatlinburg stock trader charged with fraud, money laundering

March 13th, 2009 12:00 am by Staff Report

The Knoxville News Sentinel is reporting that  Gatlinburg stock trader Dennis Bolze was arrested Thursday  in Pennsylvania by FBI and IRS agents on charges of wire fraud and money laundering.

One of the two victims in the case on which Bolze was arrested is an unnamed East Tennessee nonprofit organization whose $500,000 payment was never invested as promised, according to an IRS document.

Bolze, 60, who is originally from Pennsylvania, had not been seen since mid-December. He left Gatlinburg after a number of his investors began asking why their dividend checks were late or bouncing.

According to an affidavit by IRS Agent Kevin McCord, Bolze used two Nevada shell corporations, Centurion Asset Management Inc. and Advanced Trading Services Inc. to defraud two victims of a total of $700,000.

CLICK HERE for the full report.

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