American Fraudulent Investment Manager Back to Chicago After Being Arrested in Bali

Marcus Beam (50), of Woodridge, persuaded his clients to invest their money in popular stocks through him. He allegedly spent it on rent, vehicle loans, and other purchases.

.American Fraudulent Investment Manager Back to Chicago After Being Arrested in Bali. Credit: Scmp

Beam faces several counts of wire fraud and mail fraud, that tricked people out of at least US$500,000. In January 2020, Beam fled from the U.S. after he was released on bond. He was founded in Balu by the U.S. Marshals and he was detained last July and returned to Chicago on Wed (27/01).

When he was in Bali, Beam had been making and selling sex videos to support himself. He used a passport with a different name to escape the U.S. and then used several identities in Bali, according to Bali’s local police.

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The prison record shows that currently, Beam is being held in downtown Metropolitan Correctional Center. He pleaded not guilty during an arraignment on Wednesday.

Beam has missed several arraignments in 2020. The U.S. Magistrate Judge Susan Cox issued an arrest warrant at the prosecutor’s request.

Jeffrey Steinback as Beam’s lawyer said, “Beam and his family worked hard to facilitate his return including hiring many different attorneys.”, wrote the Chicago Sun-Times.

Beam claimed to be the owner of several companies. He allegedly the owner of Chase Private Equity LCC, a.k.a New World Capital, an investment company; virtual reality firm, VR 3600 LCC; and brokerage firm, Imex Energy.

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