A man who claimed to be the brother of former Mexican president Vicente Fox and took money from Beverly Hills investors for bogus business opportunities pleaded guilty Tuesday to grand theft, securities fraud and tax evasion, according to the Los Angeles County District Attorney’s Office.
Alfredo Trujillo Fox, 67, was sentenced to seven years in state prison for the crimes and ordered to pay $460,000 to seven victims. He was also ordered to pay $117,000 to the state franchise tax board.
Fox was arrested in January at the end of an investigation launched in June 2008 by the district attorney’s office. He was charged with 15 counts of grand theft, 15 counts of unqualified sales of securities, 15 counts of misrepresentation in sales of securities and two counts of tax evasion, and was facing a maximum of 27 years in prison.
As part of his plea deal, all but two counts each of grand theft and fraudulent sales of securities and one count of tax evasion were dropped.
According to his victims, Fox lured investors by boasting of lofty connections and displaying signs of his own wealth, driving fancy cars and dining at high-end restaurants. They said he promised unrealistically high returns for tens of thousands of dollars in investments, saying his money was held up by Homeland Security or because of the Patriot Act.
More than 20 years ago, Fox was sentenced to 10 years in prison in Arizona after investors there and in Florida said he defrauded them, claiming to be a well-connected lawyer. He served six years of that sentence before he was released on parole, according to Arizona prison records.
— Victoria Kim