Photo via Pixabay
Photo via Pixabay

A 61-year-old former Laguna Beach resident already charged in connection with two investment schemes will be arraigned next month on new charges of stealing more than $3.2 million in what federal prosecutors allege was a green-energy investment scam.

Peter Henrich Conrad Reinert, who was arrested in April 2015 after being indicted for allegedly taking part in two fraud schemes that led to $3.6 million in losses, was named in a 35-count superseding indictment filed Wednesday that alleges he operated a third scam out of the Irvine-based Income from Waste Corporation.

Investors were told the company was developing technology that would convert used tires into oil, prosecutors allege. Reinert is accused of claiming falsely to be a U.S. Secret Service agent and veteran, according to prosecutors.

Reinert allegedly collected $3.2 million from investors nationwide, then pocketed the money and spent it on luxury cars, iTunes and other personal expenses, prosecutors allege.

In the two other alleged schemes, Reinert is accused of raising money from investors for technology to increase gas mileage and the counterfeiting of government-issued IDs, prosecutors said.

Reinert is scheduled to be arraigned Aug. 8.

–City News Service

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