Friday, January 18, 2013
The former Lake Forest resident pleaded guilty to defrauding investors of $4 million, which he used, among other things, to purchase a Lake Forest mansion and run a Chicago tattoo parlor.
Kenneth Dachman, a Glencoe man who defrauded 51 investors out of more than $4 million over two years, was sentenced to 10 years in federal prison, according to a U.S. justice department press release. The former Lake Forest resident funded his family's lavish lifestyle using investments for a now-defunct sleep disorder treatment center in Northbrook, the release said. Three of his investment victims told the judge at the sentencing hearing that Dachman’s scheme had seriously affected their lives and retirement security, according to the justice department. “His business was not sleep apnea but putting money in his pocket,” U.S. District Judge James Zagel said in imposing the sentence, according to the release. Dachman pled guilty to 11…
Thursday, October 4, 2012
Kenneth Dachman, of Glencoe, faces 20 years in federal prison, $250,000 in possible fines and restitution payments.
Kenneth Dachman, of Glencoe, faces up to 20 years in federal prison when he is sentenced in December, after pleading guilty to 11 counts of wire fraud that funneled millions of invested cash, meant for a Northbrook sleep clinic, into his lavish lifestyle, the Chicago Sun-Times reports. He also faces fines up to $250,000 and must pay restitution. Patch previously reported that Dachman used investors’ funds to buy a mansion, a new SUV and vacations. He was indicted on 11 counts of wire fraud in connection with two Northbrook businesses and one Lake Forest company, according to a press release from the U.S. Department of Justice. "I choose to admit my guilt," Dachman stated in a plea declaration filed with the court, "to being accountable for…
Wednesday, July 27, 2011
Glencoe man allegedly purchased Lake Forest mansion, Land Rover and more with investors’ funds rather than operating a Northbrook business as promised.
The owner of a sleep disorder business was indicted on federal charges Monday after he allegedly defrauded more than 50 investors of $4 million. Kenneth A. Dachman, 52, of Glencoe and formerly Lake Forest, allegedly lied about the fact that he had seven previous bankruptcies and used investors’ funds to buy a mansion, a new SUV and cruises, among other purchases. He was indicted on 11 counts of wire fraud in connection with two Northbrook businesses and one Lake Forest company, according to a press release from the U.S. Department of Justice. Dachman allegedly raised more than $4 million from investors between June 2008 and September 2010 by misrepresenting the use of the funds, his business background and the financial condition of his …
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Frank Lopez
1:33 pm on Sunday, January 20, 2013
You would not think that way if you were scammed out of 4 million. 10 years seems quite appropriate. more ›