Calif. man in slammer for kiosk investment scam

Calif. man in slammer for kiosk investment scam
February 10, 2009

(Fallbrook, Calif.) North County Times: A California man has pled guilty to trying to scam elderly victims out of roughly $20 million. Edward U. Bevilacqua was sentenced to seven years in state prison for selling pay phones, Internet kiosks and jukeboxes as investment opportunities to the elderly. His co-defendant, Charles Castro, pled guilty in Feb. 2008 and has already been sentenced to a three-year term. The company promised to pay investors monthly revenues at an annual return of 12 percent, but only a fraction of the equipment was installed.

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