Exec With Ties To Playgirl Pleads Guilty To $250-M Fraud

A Florida executive, formerly associated with the family business that once owned Playgirl magazine, has pleaded guilty to conspiracy to commit securities fraud for misleading investors in another company.

Federal authorities have alleged Ruderman's (third from left) involvement in a $250 million scheme that impacted more than 3,400 investors across 42 states. I Photo: Don Friedland Facebook

The company was purporting to specialize in providing high-interest loans to small businesses.

Carl R. Ruderman, 82, served as the chairman and chief executive officer of 1 Global Capital LLC, a commercial lending company that filed for bankruptcy in July 2018.

Federal authorities have alleged his involvement in a $250 million scheme that impacted more than 3,400 investors across 42 states. Ruderman entered his guilty plea on Thursday in a federal court in Miami. Court records indicate that his sentencing is scheduled for January 3.

He could face up to five years in prison and may be required to forfeit more than $250 million.

Ruderman confessed to utilizing the funds of 1 Global Capital's investors for various personal expenses, including credit card payments, vacation travel, hiring drivers, nannies, housekeepers, covering tuition fees, mortgage payments, luxury car expenses, and insurance payments for his art collection and jewelry, as stated by the Justice Department on Friday.

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