CEO Of Bouxtie Inc. Indicted In $1.5M Investment Fraud Scheme

San Francisco, California – Bay Area executive and Croatian national Renato Libric was arrested yesterday in Redwood City, Calif., on charges related to an alleged $1.5 million investment fraud scheme, announced Acting United States Attorney Alex G. Tse and Federal Bureau of Investigation Special Agent in Charge John F. Bennett.  In an indictment filed yesterday and unsealed this morning, a federal grand jury charged Libric with forging signatures on documents to carry out the fraud.

According to the indictment, between August of 2017 and February of 2018, Libric, 39, was a shareholder in, and chief executive officer of, Delaware corporation Bouxtie, Inc.  The indictment alleges Libric fraudulently placed on a term sheet the signature of an executive of a large publicly traded corporation.  The term sheet indicated the publicly traded corporation was interested in purchasing Bouxtie at a price of $150,000,000.  Libric then allegedly caused the fraudulent term sheet to be transmitted to potential investors.  In addition, the indictment alleges Libric fraudulently placed the signatures of several members of Bouxtie’s board of directors on a Bouxtie corporate resolution.  The corporate resolution purported to authorize Libric to enter into agreements pursuant to which Bouxtie could receive a $1.5 million loan from a Las Vegas-based company.  Under the terms of the loan, the Las Vegas investor eventually would receive just under 4% of the shares of Bouxtie.  According to the indictment, the Las Vegas company was, in fact, defrauded and invested $1.5 million in Bouxtie.  Further, the indictment alleges that after the $1.5 million was deposited into a Bouxtie bank account, Libric withdrew more than $130,000 of the invested funds from the account.  In sum, the indictment charges Libric with one count of wire fraud, in violation of 18 U.S.C. § 1343 and 2.

Libric made his initial appearance this morning in before Joseph C. Spero, United States Magistrate Judge.  Libric’s next appearance is scheduled for May 15, 2018, before Magistrate Judge Spero for identification of counsel and issues related to pretrial detention or release.

The press release is available at justice.gov.

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