(25 Jul 2020) An American fugitive accused of investment fraud in the U.S. appeared at a news conference with police on Friday on the resort island of Bali, following his arrest on Thursday night.
Marcus Beam and his girlfriend were arrested in a villa in Badung late on Thursday.
Beam, who is accused of fraud involving hundreds of thousands of dollars, had been living in Bali with his American girlfriend and allegedly funding his lifestyle by making and selling sex videos.
Bali police chief Petrus Reinhard Golose said Beam had escaped from the U.S. to Bali in January, using a passport with a different name.
The U.S. Securities and Exchange Commission said on its website that Beam, of Woodridge, Illinois, is accused of misappropriating about 500,000 US dollars from investors that was supposed to be placed in investment funds.
Instead of investing the money, Beam spent it on personal and business expenses, it said.
To conceal the misappropriation, he sent fraudulent account statements to investors, and did not return any money when they attempted to redeem their investments, the SEC said.
It said it filed a complaint in the U.S. District Court in Chicago last September.

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