News

Mercer Island fund manager pleads guilty to fraud

Frederick Darren Berg, from Mercer Island, pleaded guilty Tuesday afternoon to one of the state's largest fraud cases.

With the plea, he agreed to serving 18 years in prison for stealing $100 million from investors of Meridian Group and other related ventures over seven years.

Berg plead guilty to wire fraud, money laundering and bankruptcy fraud.

The Islander was investigated by the FBI, IRS criminal division and the state Department of Financial Institutions.

Berg was arrest in October 2010. He is being held at the SeaTac Federal Detention Center.

 

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.
blog comments powered by Disqus

Read the latest Green Edition

Browse the print edition page by page, including stories and ads.

Oct 22 edition online now. Browse the archives.

Friends to Follow

View All Updates