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Daughter Accused In Fraud Released
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Published: March 17, 2008
Updated: 03/17/2008 09:12 pm
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TAMPA - A federal judge agreed Monday to release on bond half of a father-daughter team charged with participating in a $70 million stock fraud scheme that may involve more than 1,000 investors overseas.
Zibiah Joy Gunter, 25, who is charged in the scheme, was released on a $150,000 bond secured by property owned by her stepmother, Carleen Burnett Gunter. At a hearing Monday, she told the judge: "She's a very responsible girl. ... She does her best to do whatever is required of her."
But U.S. Magistrate Thomas B. McCoun denied a request to allow Zibiah's father, Paul Robert Gunter, 58, to be set free on about $500,000 in bond secured by property.
The two were arrested last week and charged by federal authorities with being involved in a scheme to "hijack" dormant publicly traded companies. Such a tactic allowed the accused to tout those companies as established businesses that had sold shares in the past, had press releases and had trading symbols that potential investors could evaluate before making investment decisions, federal officials said.
The Gunters are accused of selling "virtually worthless" shares of stock in those companies to investors in the United Kingdom through a boiler-room operation in Spain.
"This investment scam, if proven beyond a reasonable doubt, could not have operated successfully without this type of middle person," McCoun said Monday, referring to Paul Gunter.
The judge scheduled another hearing for today to allow Gunter's family to try to locate more assets to post bond for him.
Gunter's public defender, Howard C. Anderson, said Gunter's wife would contact a friend of "substantial means" to see if he could put up additional assets to secure Gunter's release.
Assistant U.S. Attorney Rachelle DesVaux Bedke opposed Gunter's release, saying he faces a possible sentence of life in prison if convicted.
She said Gunter has traveled frequently to a number of countries. She also noted investigators have tracked financial transactions from accounts he controlled to "numerous, numerous" overseas accounts. The accounts were in countries including Belize, Spain, Cypress, Lithuania, Tanzania, the United Kingdom, Barbados, Switzerland and Peru, she said.
The judge said he wanted at least $1 million in property to secure a bond for Gunter. He also wants any backers of those assets prepared to come to court to vouch for Gunter and say they are sure he won't flee.
About 20 people attended the hearing to support the Gunters, including Pastor David Landers of Heritage United Methodist Church in Clearwater, who said Gunter has attended the church for about 10 years.
Landers said he doesn't know Gunter intimately, but that he and his daughter have been "faithful in participating in worship services."
Paul Gunter has also helped prepare breakfast for church youth on Fridays and has been involved in a ministry called Emmaus, which involves a small prayer group.
Reporter Elaine Silvestrini can be reached at (813) 259-7837 or esilvestrini@tampatrib.com.
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Reader Comments
Posted by ( GF ) on March 17, 2008 at 9:24 p.m. ( Suggest removal )
70 mil,? I'll bet she's gone. What was the judge thinking?
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Posted by ( alafia1 ) on March 17, 2008 at 9:57 p.m. ( Suggest removal )
I was thinking the same thing GF...25 years old, loaded, been around different countries, come on.. tootaloo..
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Posted by ( 5thGenTampaBay ) on March 17, 2008 at 11 p.m. ( Suggest removal )
for real... if she asks (aka ax), ill go with her... as long as my wife can go... or not.
btw, i love my wife... i can always return :p
woot $70M... now *there* are 29 dimensions i can match up to :p
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Posted by ( MeghanAM ) on March 18, 2008 at 10:12 a.m. ( Suggest removal )
She's not going anywhere. She's not an idiot. Do you 'tards think she really has access to that money still? She wasn't even flashy with it when she had it.. Besides, she's on the ol' house arrest and isn't interested in further screwing up her life. Poor Zib. Paul should rot for getting his child involved in this kind of scam. :)
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