Albany Times-Union




Local investment counselor Anthony DiPace lied in a bid for a big client in Hawaii




JO-ANN JOHNSTON Business writer

Saturday, February 19, 2000


A Capital Region investment consultant has been convicted of 11 counts of wire fraud in Hawaii and could face up to five years in jail on each count.


Anthony DiPace, 42, will be sentenced May 30 in Honolulu.


DiPace could not be reached Friday for comment at his home or at his business, Direction Planning LLC, 251 New Karner Road.


The U.S. Attorney's office in Honolulu pressed charges against DiPace, saying that the investment counselor misrepresented himself in a 1996 mailing designed to land a big pension fund as a new client.


DiPace claimed that he had more clients than he actually had and lied about how much money he had under his management, the U.S. Attorney charged, when he was competing with other money managers to get the investment counseling business of The Hotel Union and Hotel Industry Pension Plan and Trust based in Honolulu.


DiPace hoped to earn $400,000 from the prospective client, according to Assistant U.S. Attorney Marshall Silverberg.

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