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For Immediate Release
December 19, 2003
Media Contact: 410-576-6357

PRINCE GEORGE'S COUNTY BUSINESS OPERATOR CHARGED WITH THEFT, MISAPPROPRIATION AND SECURITIES FRAUD

Attorney General J. Joseph Curran, Jr. announced today that Rachel Reed Chittams, age 37, formerly a resident of Prince George's County, Maryland, was charged in a six-count indictment on December 11, 2003, by the Prince George's George's County Grand Jury, with the crimes of felony theft, fraudulent misappropriation by a fiduciary, securities fraud, and other criminal violations of the Maryland Securities Act. The indictment alleges that the crimes occurred from on or about May 15, 1998 until July 19, 1999, while Rachel Chittams operated a business in Bowie, Maryland called Capital Concepts, Inc. No trial date has been set.

The pending cases will be prosecuted by the Criminal Investigations Division of the Maryland Attorney General's Office. While a criminal indictment or charge is merely an accusation of wrongdoing and every individual is presumed innocent unless the State proves the charges beyond a reasonable doubt, felony theft is punishable by a maximum sentence of fifteen (15) years or a fine of $1,000.00, or both. Fraudulent misappropriation by a fiduciary is punishable by a maximum sentence of five (5) years. The other crimes charged, alleging violations of the Maryland Securities Act, each carry a maximum sentence of 3 years, a fine of $50,000, or both.

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