SHREVEPORT, La. — David deBerardinis, the Shreveport businessman accused of defrauding investors and financial institutions in a multimillion dollar Ponzi scheme, has reached a plea agreement with federal prosecutors that would result in a 15-year prison sentence, KTBS News has learned.
No date for the guilty plea has been set in federal court in Shreveport, but it is expected to be within a month, investors told KTBS News. They spoke on condition their names not be publicized because the plea agreement has not been made public.
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Under terms of the plea agreement, deBerardinis would admit to wire fraud in connection with a $29 million bank loan guaranteed by four investors — but would also acknowledge his entire operation that promised big returns in energy trades was fraudulent, the sources said. Federal prosecutors and civil suits against deBerardinis allege the fraud exceeded $100 million and affected more than 20 investors.
deBerardinis, 59, remains free on bond pending his guilty plea and sentencing.
deBerardinis is charged with defrauding investors and banks, who believed they were loaning him money to act as a middleman in energy trades. Investors loaned deBerardinis money at double-digit interest rates.
Federal prosecutors say no trades were made and it was a Ponzi scheme where money from newer investors was used to pay…
