Television producer and businessman Drew Savitch Levin, 57, of Pacific Palisades pleaded guilty to federal charges of stock fraud and swindling an investor Thursday, according to a press release from the FBI and the U.S. Attorney's office.
There were two cases against Levin. According to the release, the first involved "conspiracy to inflate the revenue and stock price of Team Communications Group Inc., a West Los Angeles-based company." According to the U.S. Attorney's office, Levin founded the company and served as its CEO until 2001.
In the second case, Levin solicited money from an investor, but when Levin did not repay the money, the investor filed suit, the release said. The Los Angeles Times reported that Levin emailed false bank documentation that made it seem as though he had repaid the money.
The cases against Levin "were investigated by the Federal Bureau of Investigation and the United States Postal Inspection Service," according to a press release on the FBI website.
- For the full report from the Los Angeles Times, click here.
- For the press release from the FBI and U.S. Attorney's office, click here.
Be sure to follow Pali Patch on Twitter and "Like" us on Facebook.
