Craig Allen, executive officer of C.M. Allen Capital Management, Inc., has been indicted on charges related to a multi-million-dollar fraud scheme that defrauded investors nationwide, as reported by U.S. Attorney Ryan K. Buchanan and FBI Atlanta Special Agent in Charge Keri Farley.
Buchanan stated, “Allen abused his clients’ trust by allegedly stealing millions of dollars to support his lavish lifestyle. The defendant deceived and falsified documents to conceal his thefts to provide his investors with a false sense of financial security. We will continue to prosecute individuals who cheat investors out of their hard-earned money.”
Farley emphasized the impact of financial fraud, saying, “While it is easy to dismiss financial fraud cases as being almost benign because of their lack of violence, there is, however, a very real victimization felt and lives are changed forever. The FBI is hopeful that Allen’s indictment will send a strong message to anyone who would try to take advantage of unsuspecting investors for their own personal greed.”
The indictment alleges that Allen defrauded numerous investors through his management of the Cheetah Fund, providing false reports of high investment returns and misleading account statements. Investors suffered losses exceeding $7 million due to Allen's fraudulent activities.
Craig Murfee Allen, 53, of Atlanta, Georgia, was indicted by a federal grand jury on February 23, 2024. The indictment serves as a reminder that the defendant is presumed innocent until proven guilty in court.
The case is being investigated by the Federal Bureau of Investigation with assistance from the U.S. Securities and Exchange Commission. The SEC has filed a separate civil case against Allen.
Assistant U.S. Attorneys Natasha Cooper and Christopher J. Huber are prosecuting the case. For more information, the public can contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016.