Former CEO of Venue Tech System, David Tacke, convicted of fraud, money laundering in Kalispell.

Kalispell businessman has been convicted of fraud and money-laundering charges for bilking investors in a business venture to manufacture binoculars for fans to rent at sports stadiums.

The Missoulian

After a nine-day trial and six hours of deliberations Thursday afternoon, a federal jury convicted David Tacke on all 12 counts against him for the loss of $3.6 million in investor’s money.

The charges were tied to Tacke’s management of a variety of corporations controlled by holding company Venue Tech System.

He was convicted of one count of mail fraud an done count of wire fraud for interstate investment communications, along with 10 counts of money laundering stemming from transactions between bank accounts.

U.S. Attorney Kris McLean contended that Tacke fraudulently obtained investment for the business from across the county. He charged that Tacke did not register securities with the state auditor’s office as required and that he was not registered to sell securities.

Tacke also failed to provide investors with necessary disclosures, detailed financial statements and reports about how money was spent, along with information about state and federal tax liens or government orders to stop selling securities. Tacke also did not disclose the multiple lawsuits that have been filed against him.

“This is the type of information an investor should be told about before they fork over their hard-earned money,” McLean argued in court last week.

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State alleges fraud by Kalispell businessman David Tacke of Venue Tech Systems, Binocs Manufacturing and Tekware Solutions http://www.matr.net/article-5762.html