Man Convicted of Fraud Fatally Shoots Himself

A man convicted of bilking elderly investors out of $20 million in a massive Ponzi scheme was found dead of a self-inflicted gunshot wound the day he was scheduled to be sentenced, authorities said Wednesday.

Los Angeles County sheriff’s deputies found the body of Mark D. Seigel, 51, in the cul-de-sac of his Agoura Hills home about 9 a.m. Monday, said Scott Carrier, a spokesman for the Los Angeles County coroner’s office.

Seigel and two of his co-defendants were convicted in October on charges of conspiracy, securities fraud, mail fraud and money laundering.

John K. Judd Jr., 44, of Manhattan Beach, was sentenced Monday to eight years in federal prison and ordered to pay $500,000 in restitution.

Betty Ann Rubin, 52, of Woodland Hills, is scheduled to be sentenced May 14.

A fourth co-defendant, Alexander Lazar Kahan, 48, of Los Angeles, pleaded guilty early last year to one count of conspiracy and two counts each of securities fraud, mail fraud and money laundering. He is scheduled to be sentenced next Monday.

They were accused of enticing their victims to invest in bogus oil and gas developments, promising returns of 10% to 12% a year.

Prosecutors said they operated from 1991 to 1995 out of KS Resources, Weststar Exploration and Lazar Frederick & Co., Beverly Hills-based companies involved in the issuance of gas and oil well securities.