ATLANTA - A Snellville man wanted by federal authorities in a multi-million dollar financing scheme remains on the lam, while his alleged counterparts move closer to prison, an official said Wednesday.
Eyal Dulin, 39, joined a trio of con artists who masqueraded as brokers and preyed on entrepreneurs and small businesses, federal authorities believe.
Dulin remains a fugitive on federal charges of conspiracy to commit mail and wire fraud, and one count of wire fraud. He was indicted on the charges - along with co-defendants Katherine Twigg, 47, of Hoschton, and Anthony Tobin, 51, of Atlanta - on March 25.
Dulin, the alleged ringleader, pleaded guilty to the charges in federal court Wednesday. Twigg is expected to enter a similar plea July 28, authorities said.
The trio bilked roughly 40 victims of about $5 million in the scheme, said United States Attorney David Nahmias.
Tobin admitted to using various networking Web sites to skim e-mail addresses of potential victims, informing them he was in the business of providing venture capital, investment funds and business loans.
As a precondition for this funding, the victims paid non-refundable, advance expenses and fees.
Tobin kept the fees and transferred them to accounts controlled by him and the co-defendants in the case, Nahmias said.
A sentencing hearing for Tobin is scheduled for Oct. 8. He faces up to 40 years in prison and a $500,000 fine.