In a courtroom revelation, Kris Roglieri, the CEO of Prime Capital Ventures, LLC, has pled guilty to wire fraud conspiracy linked to a scheme that defrauded his clients of tens of millions of dollars. The announcement, detailed in a press release from the office of the Acting United States Attorney for the Northern District of New York, John A. Sarcone III, outlined Roglieri's admission of guilt and his impending sentencing.
The charges stem from activities between mid-2022 and January 2024, where Roglieri and accomplices conspired to swindle clients by misrepresenting Prime Capital's ability to secure large commercial loans. Roglieri confessed to deception in persuading clients to turn over significant sums of money with the false guarantee of loan procurement and assured refunds if such loans failed to materialize. These funds were misallocated by Roglieri to cover previous debts and to support his own opulent lifestyle; this included expenditures on luxury items such as private jets and expensive jewelry.
United States District Judge Mae A. D'Agostino is set to sentence Roglieri on March 11, 2026. He faces a maximum of 20 years in prison, a potential fine of $250,000, and up to three years of supervised release. Additionally, he has agreed to a forfeiture order for his ill-gotten gains totaling over $55 million, which includes a dozen luxury vehicles, several high-end watches, and a mansion that was purchased as part of the fraudulent activities. As Acting U.S. Attorney Sarcone stated on U.S. Attorney's Office, "All those trappings of wealth will be forfeited, and he will be ordered to make his victims whole."
Aiding the investigation were two co-conspirators, Kimberly Owen and her brother Christopher Snyder, both of Virginia Beach. Owen and Snyder have pled guilty to a charge of wire fraud conspiracy and have admitted to conspiring with each other and Roglieri to defraud clients. The siblings are scheduled for sentencing on January 15 and January 16, 2026, respectively. Describing the depth of the deceit orchestrated by Roglieri, FBI Special Agent in Charge Craig L. Tremaroli stated in a U.S. Attorney's Office press release, "Mr. Roglieri built his lavish lifestyle on the backs of hardworking Americans looking to fund their businesses. Today’s plea ensures he will pay the price for that disturbing deception and greed."
Roglieri, who has been in custody since his arrest on a criminal complaint on May 31, 2024, now awaits his fate as the judiciary prepares to deliver a sentence that not only punishes but seeks to remedy the financial and emotional toll exerted upon his victims. The case against Prime Capital's former CEO was investigated by the FBI, with Assistant U.S. Attorney Joshua R. Rosenthal prosecuting the case.
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