Former Altamont Resident Wurl In Court Tuesday

Print

Published on July 29 2015 4:18 pm
Last Updated on July 29 2015 4:18 pm
Written by Greg Sapp

Former Altamont resident Nick Wurl was in court Tuesday for a status hearing in his federal wire fraud case.

The 25-year-old Wurl, now a Chicago resident, is alleged to have told investors that Ludiera Capital, LLC was in the business of buying, transporting and selling commodities, such as corn and wheat, domestically and internationally, when Ludiera actually never bought, transported, or sold any commodities. Wurl is the president of Ludiera Capital, LLC.

Joe Fitzpatrick of the US District Attorney's Office for Northern Illinois said Wurl's Tuesday court appearance was to determine the status of the case, but was also held to consider a prosecution motion to change a condition of Wurl's bond. The condition restricts Wurl from participating in trading stocks and bonds pending his trial. 

Fitzpatrick said a trial judge typically includes the stipulation when setting bond, but that didn't happen in Wurl's case. The motion was granted Tuesday.

The indictment filed against Wurl seeks forfeiture of approximately $9 million.

Wurl, who is free on bond, is next due in court for another status hearing on September 9. No trial date has been set.