William Vogt Allegedly Posed As Wealthy Fashion Designer “Bill Bolland”To Steal Over $36,000 From Victim In Investment Scheme
Schneiderman: Defrauding Investors Is A Serious Crime, And My Office Will Secure Justice For The Victims Of This Scheme
KINGSTON – New York State Attorney General Eric T. Schneiderman today announced the arraignment of William Vogt, a/k/a Bill Bolland, for allegedly stealing over $36,000 from a victim in an investment scheme perpetrated in Ulster County. This is the second indictment lodged against Vogt by the Attorney General’s Office this year for similar scams. In January 2015, Vogt was indicted in New York County for defrauding another victim in a similar investment scheme. If convicted, Vogt faces up to 7 years in prison on the case in Ulster County and up to 15 years in prison on the earlier indictment.
According to the indictment Vogt was arraigned on today in Ulster County Court and statements made by the prosecutor, the attorney general's investigation revealed that Vogt, 57, of New Hampton, New York, held himself out as an internationally renowned fashion designer named Bill Bolland. Vogt allegedly convinced the victim in this case, like in the previous case, that he could use his connections to secure investment opportunities in tax-free, high return accounts. Instead of delivering on his promises, Vogt allegedly took tens of thousands of dollars of the victim’s money over a five-month period, but made no investments and transacted no business on behalf of the victim.
“This individual allegedly went to outrageous lengths, including creating a fake identity, to trick his victims into trusting him with tens of thousands of dollars, said Attorney General Schneiderman. “Whether you are a big bank or a small-time fraudster looking to make a quick buck, defrauding investors is a serious crime in New York. My office will continue to investigate these allegations and secure justice for the victims of this alleged scheme.”
Beginning in June of 2012, Vogt allegedly convinced his victim, a resident of Wilkes Barre, PA, that he could get a good rate of return by investing in a purportedly tax-free account allegedly held by Vogt at a major financial institution. Prosecutors further stated that, in order to make the investment appear legitimate and to conceal his theft, Vogt sent forged emails to the victim that purported to come from the financial institution attesting to the existence of the alleged account. Believing that Vogt had business expertise and financial savvy, the victim gave Vogt more than $36,000 to invest in the account. The Attorney General’s investigation revealed that no such account ever existed.
Vogt is charged with one count of Grand Larceny in the Third Degree (a class "D" felony), two counts of Forgery in the Second Degree (a class "D" felony), and one count of violation of the Martin Act (a class "E" felony). Vogt was arraigned before the Honorable Donald Williams in Ulster County Court.
Vogt is currently in jail on $2,000,000 bail stemming from his January indictment in New York County. That case, currently pending before the Honorable Judge Thomas Farber, is next scheduled for September 1, 2015.
The charges against the defendant are allegations and he is presumed innocent until proven guilty in a court of law.
The Attorney General’s investigation into additional frauds committed by Vogt continues.
The Attorney General's investigation was conducted by Investigator Ryan Fannon under the direction of Supervising Investigator John Sullivan and Deputy Chief John McManus. The Investigations Bureau is led by Chief Dominick Zarrella.
The case is being prosecuted by Assistant Attorney General George Bronner of the Criminal Enforcement and Financial Crimes Bureau with the assistance of Legal Support Analyst Brandon Shapiro. The Criminal Enforcement and Financial Crimes Bureau is led by Bureau Chief Gary Fishman and Deputy Bureau Chiefs Stephanie Swenton and Meryl Lutsky. The Criminal Enforcement and Financial Crimes Bureau is part of the Criminal Justice Division, led by Executive Deputy Attorney General for Criminal Justice Kelly Donovan.