Lev Parnas, a former associate of Rudy Giuliani who was previously convicted on campaign finance charges, pleads guilty to a wire fraud conspiracy charge resulting from his work at a startup insurance company he co-founded.
Eduardo Munoz Alvarez/Getty Images, pleaded guilty Friday to a wire fraud conspiracy charge that resulted from his work at a startup insurance company he co-founded.
Federal prosecutors accused 50-year-old Parnas of duping investors in Fraud Guarantee, a company he established in Florida with a co-defendant, David Correia, who previously pleaded guilty. Parnas appeared by video in front of U.S. District Judge Paul Oetken in Manhattan and said"between approximately 2012 and 2019 I agreed with another person to give false information" to potential investors.Parnas and Correia tried to lure potential investors to Fraud Guarantee by hiring Giuliani as a pitchman, according to federal prosecutors. Giuliani has said he was paid $500,000.
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