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Former Vanguard President Indicted For Embezzlement
April 08, 2005

Sarasota, FL - Dwayne Samuels, the former president of Vanguard Asset Group Inc. (Lake Success, NY), has been indicted by a federal grand jury in New York for embezzlement of health care premiums and for defrauding small business clients to benefit himself, said the U.S. Department of Labor.

Samuels was indicted for embezzlement of payments intended to provide health care coverage and for devising a scheme to defraud members of the Wedding & Event Videographers Association International (WEVA) and the American Financial Management Association Group (AFMA), according to the Labor Department.

Samuels allegedly carried out the fraud by falsely representing to WEVA members that Vanguard carried stop-loss insurance coverage to pay claims in excess of the assets that Vanguard had and by embezzling for his personal use payments made to Vanguard that were intended to provide health-care coverage, the Labor Department said.

"While the courts must now decide the outcome, WEVA is very pleased that the federal government has taken action to prevent others from being victimized as WEVA and its members were," said WEVA International chairman Roy Chapman.

The New York regional office of the Labor Department and the department’s Office of Inspector General in New York conducted the joint investigation. The U.S. Attorney’s Office for the Eastern District of New York prosecuted the case. Details of the case and the indictment are posted on the Labor Department's website at: www.dol.gov/ebsa/newsroom/pr0406a05.html


WEVA News is a service of the Wedding & Event Videographers Association International (WEVA). The largest trade association for professional wedding and event videographers, WEVA International is dedicated to advancing the professional interests of videographers worldwide through continuing education, technical support, group benefits, advocacy committees and professional development training. For more information regarding professional videography and WEVA International activities and membership, including the WEVA Institute, the 7th Annual WEVA Town Meeting Tour (March/April), and the 15th Annual WEVA EXPO (August 8-11, 2005), visit www.weva.com, or contact the association office at 941-923-5334 or email: info@weva.com.




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