Another 1933 Rolls Royce Phantom II Sedanca de Ville, a car federal prosecutors say a man facing federal wire fraud charges purchased with funds from investors.
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Alamy Stock Photo
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www.alamy.com
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Topline:
A West Hills man is expected to plead guilty to a federal wire fraud charge for bilking clients out of nearly $6 million using a Ponzi scheme, according to federal prosecutors.
What was the scheme? Department of Justice officials said Tuesday that Sylvein William Maximilian D’Habsburg XVII told potential investors he had AI technology that could predict the future and detect a COVID-19 infection “based solely on a video recording.”
What did he do with the money? The DOJ allege D’Habsburg used the $5.9 million raised fraudulently to buy luxury cars like a 1933 Rolls Royce Phantom and rare antiques like a pair of Italian carved Giltwood Thrones from the 1800s.
What do we know about the plea? D’Habsburg is expected to enter a guilty plea in the coming weeks at a federal courthouse in downtown Los Angeles, and could face up to 20 years in federal prison.
Read on... about his phony ties to the House of Habsburg in Austria.
A West Hills man is expected to plead guilty to a federal wire fraud charge for bilking clients out of nearly $6 million using a Ponzi scheme, according to federal prosecutors.
What was the scheme?
Department of Justice officials said Tuesday that Sylvein William Maximilian D’Habsburg XVII (not his birth name, more on that in a moment) told potential investors he had AI technology that could predict the future and detect a COVID-19 infection “based solely on a video recording.”
D’Habsburg allegedly targeted the local Filipino community, including elderly church parishioners.
Authorities also allege he falsely claimed to investors that he already had about a half billion dollars in investment funds, dropping names like Kobe Bryant, Michael Jordan, and Steve Wozniak.
D’Habsburg said he would use those funds and new investments to “hire personnel and obtain patents,” according to the Justice Department news release.
What did he do with the money?
The DOJ allege he used the $5.9 million raised fraudulently to buy luxury cars like a 1933 Rolls Royce Phantom and rare antiques like a pair of Italian carved Giltwood Thrones from the 1800s.
The Habsburg family circa 1765. Authorities said Sylvein William Maximilian D’Habsburg XVII changed his name and is no relation.
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Public domain
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Kunsthistorisches Museum Wien, Bilddatenbank
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Was he descended from royalty?
No, LAist confirmed with federal officials that D’Habsburg, aka “Sylvein Scalleone,” has no relation to the House of Habsburg in Austria, one of Europe’s most prominent dynasties.
What do we know about the plea?
D’Habsburg is expected to enter a guilty plea in the coming weeks at a federal courthouse in downtown Los Angeles, and could face up to 20 years in federal prison.
