Carl R. Ruderman, 82, of Miami, Miami-Dade County, Florida, United States was chairman and chief executive officer of 1 Global Capital LLC. Based in Hallandale Beach, Broward County, Florida, the commercial lending company filed for bankruptcy on July 27, 2018.
In 2016, Ruderman directed a lawyer, Jan Douglas Atlas, now 78, of Fort Lauderdale, Florida to author two opinion letters containing false information that allowed 1 Global to skirt federal securities laws. Among their co-conspirators are Andrew Dale Ledbetter, 81, of Fort Lauderdale, Florida and Steven Allen Schwartz, 78, of Delray Beach, Florida.
Ruderman and his co-conspirators made false and misleading representations to investors and potential investors as to the profitability of 1 Global’s business in marketing materials and periodic account statements. Investors were falsely told that the company had audited financials by a public accounting firm, the investor’s money would be spent on the merchant cash advance loans and they could expect double-digit returns on their investments.
Without the investors knowledge, Ruderman diverted 1 Global Capital investor money to businesses benefitting him and his family. He spent the money on credit card payments, insurance payments for his employees, mortgage payments for his house, payments for a luxury car, tuition, vacation travel, art collection and valuable jewelry.
On October 12, 2023, Ruderman pleaded guilty to conspiracy to commit securities fraud in federal court in Miami. The securities fraud scheme was worth $250 million.
In Ruderman’s plea agreement, Ruderman agreed to a sentence of 5 years, the statutory maximum and to a forfeiture money judgment of more than $250 million. His luxurious lifestyle was funded by at least $28 million raised by 1 Global investors.
On January 3, 2024, Ruderman will be back in court for his sentencing. His co-conspirators have pleaded guilty for their role in the fraud.
CONAN Daily 