Prosecutors: Man Posed As Fashion Designer, Conned Investor Out Of $350,000

NEW YORK (CBSNewYork) -- An Orange County man was indicted this week, accused of posing as a renowned fashion designer to con a victim out of $350,000 in investments.

William Vogt was charged in an 18-count indictment Tuesday, on allegations that he used the name Bill Bolland, of the company Bill Bolland Haute Couture, to lure his victim into the fraudulent investments, according to the New York State Attorney General's office. Prosecutors said Vogt actually took the money and used it for personal expenses.

"Whether you are a big bank or a fraudster looking to make a quick buck, defrauding investors is a serious crime in New York," Schneiderman said in a news release. "This individual allegedly went to outrageous lengths, including creating a fake identity, to trick his victim into trusting him with hundreds of thousands of dollars. My office will continue to investigate these allegations and seek to secure justice for all of its victims."

Prosecutors said Vogt, 56, of New Hampton, posed as millionaire designer Bill Bolland and convinced a victim to invest in various fictitious ventures from 2011 until 2014. They included a purportedly tax-free account at Credit Suisse, stock in the VOSS Water Company, and cooperative housing units in Manhattan, prosecutors said.

Vogt allegedly took the victim's money by promising to secure office space at the Heron Tower in Manhattan, to procure seats on the board of directors of the Voss Foundation, to purchase health insurance and an IRA, to facilitate an application for Swiss citizenship, and to make a contribution to Hillary Clinton, prosecutors said.

Vogt also allegedly sent forged e-mails to the victim that claimed to be from Credit Suisse, VOSS, Morgan Stanley, and a law firm, prosecutors said.

But Vogt really did not make any investments at all, and really used the money for personal expenses such as his own rent, shopping at Home Depot, Target and Shoprite, and making PayPal purchases, prosecutors said.

Vogt was also accused of stealing from several other investors who were promised high-return investments, prosecutors said.

He was charged with grand larceny, forgery, and violations of the Martin Act, and could face up to 15 years in prison if convicted, prosecutors said.