Kris Roglieri, the owner of Prime Capital Ventures, LLC, could face up to 20 years in prison if convicted on wire fraud conspiracy charges. A recent indictment alleges that the Queensbury businessman orchestrated a multi-million-dollar scheme by misrepresenting his company’s ability to provide loans. As a result, clients across the country were misled into making substantial interest payments on loans that Prime Capital Ventures was never in a position to deliver, according to the U.S. Attorney's Office.
Yesterday’s court proceedings expanded upon the earlier indictment, which already included five counts of wire fraud. The growing inventory of assets seized following Kris Roglieri’s arrest paints a picture of lavish excess—featuring multiple Ferraris, including the rare LaFerrari F150, a fleet of luxury Mercedes-Benz vehicles, and a trove of high-end watches. Altogether, these items highlight allegations of a lifestyle financed through fraudulent means. Authorities are now seeking the forfeiture of over $183 million in real estate and cash. U.S. Attorney John A. Sarcone III laid out the charges, highlighting that Roglieri allegedly funneled millions from a bankrupt company, leaving creditors in financial ruin.
While these charges still remain as allegations, and Roglieri is presumed innocent until proven guilty. The indictment details how the businessman and his indicted co-conspirators, including Kimberly Owen and Christopher Snyder of Virginia Beach, reportedly ensnared their clients with promises of vast loans—assuming they paid into Prime Capital's “Interest Credit Account” (ICA). It turned out, the ICA allegedly served as little more than a tool for Roglieri to finance his lavish lifestyle, as each ICA payment would be debited over time as the loan was funded, a provision that never actualized since the company seemingly lacked actual loan sources, as per the press release.
With a trial date set for January 5, 2026, proceedings are moving forward in the case against Roglieri, who faces potential prison time if convicted. Co-defendants Owen and Snyder have entered guilty pleas to wire fraud conspiracy charges. Special Agent in Charge Craig L. Tremaroli stated that the FBI remains focused on pursuing individuals involved in financial exploitation.
