Zuber Indicted On Charges Of Defrauding Harvard Investments

Zuber Indicted On Charges Of Defrauding Harvard Investmentsphoenix Bus

Zuber indicted on charges of defrauding Harvard Investments PHOENIX BUSINESS JOURNAL Wednesday, October 15, 2008 A Scottsdale real estate executive was indicted Wednesday for money laundering, theft and fraud that allegedly cost his employer $11 million. Douglas Ross Zuber, 40, of Phoenix, was indicted on one count of money laundering, one count of theft and one count of fraud, according to Arizona Attorney General Terry Goddard. The charges allege Zuber embezzled nearly $11 million from his employer, Harvard Investments, Inc. and its subsidiaries. Between 1999 and 2006, Zuber allegedly was employed as executive vice president at Harvard, a real estate acquisition and development firm. His responsibilities included managing many of the company’s real estate projects and subsidiary partnerships.

During his tenure, Zuber allegedly created a scheme to fraudulently direct nearly $11 million into bank accounts he controlled. The indictment further alleges he created fictitious vendors, opened bank accounts in those vendors’ names and submitted phony invoices and tax identification information to Harvard. Zuber’s attorney Larry Debus of Phoenix law firm Debus Kazan Westerhausen Ltd. did not immediately respond to a request for comment. Zuber is expected to surrender to authorities in Maricopa County this week.

Paper For Above instruction

The case against Douglas Ross Zuber is a criminal case involving charges of money laundering, theft, and fraud. Criminal cases are prosecuted by the government to address violations of the law that are considered offenses against society. In this particular case, the State of Arizona, represented by the Arizona Attorney General, acts as the plaintiff, seeking to enforce laws pertaining to financial crimes and to punish the defendant for alleged illegal activities.

Such cases are typically heard in state courts when they involve violations of state laws, as is the case here. The charges stem from alleged illegal actions committed within Arizona, making the state court the appropriate venue for trial. The prosecution must prove beyond a reasonable doubt that Zuber committed the crimes of embezzlement, money laundering, and fraud. The burden of proof is high in criminal cases, requiring the prosecution to establish each element of the offenses with sufficient evidence to persuade the court of the defendant's guilt.

In criminal proceedings, the plaintiff is the state, represented by the prosecutor, and not the victim personally, although victims may be involved as witnesses or to provide impact statements. The goal of the prosecution is to demonstrate that the defendant committed the alleged crimes intentionally and beyond a reasonable doubt. If convicted, Zuber could face penalties including fines and imprisonment, reflecting the severity of white-collar financial crimes.

Overall, this case underscores the importance of regulatory oversight and accountability in corporate finance, as well as the legal mechanisms in place to address corporate fraud and protect stakeholders and the public from financial misconduct. Detecting and prosecuting such cases serves as a deterrent to potential offenders and safeguards the integrity of financial markets and business practices.

References

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