Man’s Yacht Is Seized as Part of Fraud Judgment
Federal authorities have seized a 75-foot yacht and frozen several accounts controlled by a San Diego County man who bilked investors out of millions of dollars.
A federal court in 2001 held Vladislav Steven Zubkis liable for orchestrating an elaborate “boiler room” scam that illegally raised $10 million from more than 1,100 investors through a company called Z-3 Capital. The company used fraudulent sales practices to sell stock in a coffee company, Stella Bella USA, according to the Securities and Exchange Commission.
Zubkis, a native of Ukraine, has not paid a $21-million judgment against him, and is in violation of a court order that bars him from serving as an officer or director of a public company, SEC officials said.
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