abigsexyboss:

realitista:

A broadband adviser selected by Federal Communications Commission Chairman Ajit Pai to run a federal advisory committee was arrested last week on claims she tricked investors into pouring money into a multimillion-dollar investment fraud scheme, according to The Wall Street Journal.

The adviser, Elizabeth Pierce, is the former chief executive of Quintillion, an Alaska-based fiber optic cable provider operating out of Anchorage. In her capacity as CEO, Pierce allegedly raised more than $250 million from two New York-based investment companies using forged contracts with other companies guaranteeing hundreds of millions of dollars in future revenue. Pierce resigned from Quintillion in August of last year, and she stepped down from her role in Pai’s Broadband Deployment Advisory Committee (BDAC) the following month.

“As it turned out, those sales agreements were worthless because the customers had not signed them,” US attorney Geoffrey Berman said in prepared remarks, as reported by the WSJ. “Instead, as alleged, Pierce had forged counter-party signatures on contract after contract. As a result of Pierce’s deception, the investment companies were left with a system that is worth far less than Pierce had led them to believe.”

@takashi0 Well well well