Alan Abrahams, who has been accused of bilking thousands of investors out of up to $50 million in a commodities options scheme, is believed to have transferred half a million dollars from his Bermuda bank account to a Swiss bank shortly after his disappearance two weeks ago, according to sources investigating his financial records.
Abrahams, 52, also known as James A. Carr, was captured Wednesday near Tampa, Fla., by the FBI after he had fled from Boston. He had been released on $100,000 bail, but was being sought after an FBI fingerprint check showed Carr to be Abrahama, an escaped convict from New Jersey who was also wanted in connection with a New York City probation violation.
Abrahama had created and run for 18 months, Lloyd, Carr && Co., a commoditie options firm dealing in controversial "London options' from 12 offices across the country.
Retired Boston judge Walter H. McLaughlin was appointed receiver for Lloyd, Carr & Co. by a federal judge in Boston after the firm was shut down and several of its officials arrested with Carr.
McLaughlin returned yesterday from Bermuda, where he was negotiating with the Bank of Bermuda and the N.T. Butterfield & the two banks reportedly used by Abrahama for his personal and business accounts.
According to McLaughlin, who was interviewed by telephone from Boston, he was able to put a freeze on all funds at the two banks for at least 21 days.
Sources close to the investigation say that Abrahama also owned land in New Mexico, Arizona and Maine which he had purchased as part of an elaborate plan to get more people to invest in his commodities operation.
The source said Abrahama would buy the land from potential customers under the condition that they invest the money back into options with him. Thus, he would up with both the money and the land.
McLaughlin said his research into another Bermuda firm that allegedly purchased the options for Lloyd, Carr in London, revealed that at least some options had been purchased, even in recent weeks.
Meanwhile, a federal grand jury has indicted Abrahamas in Boston for lying to the court in Boston when he was arrested. He had said at the time of his arrested that he had never been arrested and that he had never used other names.
Also in Boston, the Newton-Wellesley Hospital said yesterday that Abrahamas paid for the birth of his child by his second marriage with a bad check almost two years ago. Hospital spokesman Kevin McManus said Abrahams used the name Robert Conlee when paying the bill for his wife, Lynn Heinsius, and their child, Artis.
A watertown, Mass, woman, Alice Barsam, also said in Boston yesterday that Abrahams owed her about $1,000 for several months rent in her boarding house before he moved into his $350,000 house. The charges included a $130 phone bill and $2.50 for what she called "gas money."
The Commondity Futures Trading Commission has said that Lloyd, Carr customers who believe they have suffered money damages through violations of the Commodity Exchange Act by Lloyd, Carr or its representatives should mail evidence of their claim to Judge Walter McLaughlin, 10 Post Office Square, Boston, Mass. 02109.
McLaughlin, the court appointed receiver, said that supporting documents would include confirmations of orders and any other correspondence with the firm, which had a dozen offices around the country.