Giuliani associate Lev Parnas pleads not guilty to bilking investors

Giuliani associate Lev Parnas pleads not guilty to bilking investors

Rudy Giuliani associate Lev Parnas pleaded not guilty Monday to swindling millions from investors in his company Fraud Guarantee.

Parnas and two co-defendants, Igor Fruman and Andrey Kukushkin, also pleaded not guilty to violating campaign finance laws during a video arraignment on a superseding indictment in Manhattan federal court.

The trio is accused of illegally channeling cash into US local elections and conspiring with a Russian national to pump foreign funds into Republican campaigns.

A fourth defendant, Fraud Guarantee co-founder David Correia, pleaded guilty last month to one count each of conspiracy to commit wire fraud and making false statements to the Federal Election Commission about the source of a $325,000 donation to a pro-Trump super PAC. He faces a maximum of 20 years in prison on the top count when he’s sentenced Feb. 8.

Prosecutors allege that he and Parnas blew a majority of investor funds on personal expenses. Giuliani, who is not charged in the case, received $500,000 to work on behalf of Fraud Guarantee, the New York Times reported.

Parnas and Fruman once helped Giuliani investigate the Ukrainian business dealings of Hunter Biden, President-elect Joe Biden’s son. The quartet was first arrested in 2019 then hit with a superseding indictment in September.