CEO

Wall Street CEO Faces Prison for Scams That Targeted Villanova University

Authorities say a Wall Street CEO is facing prison for scams that targeted Pennsylvania's Villanova University, a New York City church and other victims.

Attorney General Eric Schneiderman says Anthony Nyame, the CEO of General Capital Corporation, has pleaded guilty to felony charges.

Schneiderman says Nyame sent a spoofed email that redirected $2.7 million destined for a Villanova vendor to his own bank account.

He transferred $200,000 out of the country before authorities could freeze the remaining balance. The First Ghana Seventh Day Adventist Church in the Bronx and others were duped into giving him large amounts of collateral to arrange promised loans.

Schneiderman says Nyame could get three to nine years in prison - or a year if he repays $800,000 to loan scheme victims.

Copyright AP - Associated Press
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