Christopher Snyder, a former associate of Kris Roglieri and the former COO of Prime Capital Ventures, pleaded guilty on Friday, May 17, 2025, in federal court in Albany to one count of conspiracy to commit wire fraud. Snyder admitted his role in a loan scheme that defrauded clients seeking large lines of credit through Prime Capital Ventures.
Details of the Scheme
The wire fraud conspiracy involved collecting substantial upfront payments from clients with the promise of securing multimillion-dollar lines of credit. In one notable instance, a client—1800 Park Avenue LLC—transferred $5 million as an "interest credit account" payment, believing it would go toward a nearly $100 million line of credit. However, these funds were not used as promised. Instead, they were misappropriated, with large sums being diverted to personal accounts, luxury purchases, and to pay off previous clients, a hallmark of a Ponzi-like operation.
Connection to Kris Roglieri
Kris Roglieri, the owner of Prime Capital Ventures, has also been indicted on multiple counts of wire fraud and is currently in jail. Prosecutors allege Roglieri misused client funds for personal expenses, including luxury items and vacations, and faces potential legal claims exceeding $200 million. The fraud case has drawn significant attention due to the scale of alleged losses and the involvement of high-profile business figures.
Status and Implications
Snyder's guilty plea marks a significant development in the broader investigation into Prime Capital Ventures and its leadership. The case continues to unfold, with Roglieri and potentially other associates facing serious legal consequences as authorities pursue further charges and restitution for affected clients.
What was the role of Christopher Snyder in the Kris Roglieri $200M loan scheme?
The scheme involved collecting substantial upfront payments from clients with the promise of securing multimillion-dollar lines of credit.A specific instance mentioned is the case of 1800 Park Avenue LLC, which transferred a $5 million "interest credit account" payment for a purported nearly $100 million line of credit.Snyder admitted that these funds were not used as promised. Instead, large sums were misappropriated, being diverted to personal accounts, luxury purchases, and used to pay off previous clients1. The source notes that using funds to pay off previous clients is a hallmark of a Ponzi-like operation.
What were the key charges against Christopher Snyder in the loan scheme?
The key charge against Christopher Snyder in the loan scheme was one count of conspiracy to commit wire fraud. Snyder pleaded guilty to this charge in federal court in Albany, admitting his role in the fraudulent activities related to the loan scheme.
What were the main evidence used to convict Christopher Snyder?
The main evidence used to convict Christopher Snyder included:
- Documentation and records showing that Prime Capital Ventures, where Snyder was COO, collected large "interest credit account" (ICA) deposits from clients with the promise of providing lines of credit but failed to fund the loans or return the deposits.
- Specific examples cited in court filings, such as the Onward, Compass, and Camshaft agreements, where clients paid substantial ICA deposits that were not used as promised.
- Evidence that a significant portion of these client deposits—totaling over $63 million in known missing funds—were misappropriated, with funds used for luxury purchases unrelated to client loans, including vehicles, watches, jewelry, antiques, private plane charters, and real estate.
- The guilty plea itself, in which Snyder admitted to conspiracy to commit wire fraud, further solidified the case.
These elements formed the core of the prosecution's case and were key in securing Snyder's conviction.
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