Bryan Singer Accuser Michael Egan Indicted on Securities and Wire Fraud Charges

Egan is accused of inducing his victims to enter into fictitious business and investment contracts, the FBI says

Last Updated: December 17, 2014 @ 6:43 PM

Michael Egan, who earlier this year accused “X-Men” director Bryan Singer of sexually abusing him when he was a teen, has been indicted on wire fraud charges, the FBI said Wednesday.

According to the bureau, Egan “engaged in a fraudulent investment scheme by inducing his victims to enter into various fictitious business and investment contracts” from August 2007 to February 2012.

Egan is accused of promising that he would invest the victims’ money in various projects, such as Halloween themed attractions, holiday themed attractions, land development and investment deals, and television shows, among others, when, in reality, he did not invest victims’ money as promised.

Egan is also accused of inducing his victims to invest with him by lying about his financial background and personal assets. In one instance, the FBI said, Egan allegedly forged brokerage account statements to reflect fraudulent balances when, in reality, those accounts had no money or a fraction of the purported amount.

According to the indictment, filed in federal court in North Carolina on Tuesday, in one instance Egan furnished a “fraudulent, forged and altered brokerage account statement” claiming that he had more than $7 million in assets. In truth, the indictment said, the account was his then father-in-law’s, and the account had nowhere near a $7 million balance.

He faces a maximum of 20 years in prison and a $5 million fine for the securities fraud count, and a 20-year prison term and a $250,000 fine for the wire fraud count.

Earlier this year, Egan made headlines after alleging that Singer, former NBC president Garth Ancier, Broadway producer Gary Goddard and former Disney executive David Neuman had sexually abused him. All four denied the claims, and holes in Egan’s story became apparent.

Egan’s lawsuits were eventually dismissed, and Egan found himself on the receiving end of legal woes, when Ancier filed a malicious prosecution lawsuit against Egan and his attorneys. In response, one of Egan’s attorneys, Mark Gallagher, filed a cross-complaint against Egan, claiming that if Ancier suffered injuries, they were due to “acts and/or omissions” on the part of Egan and another of his attorneys, Jeffrey Herman.

In a statement  Wednesday, Ancier’s attorney, Louise Ann Fernandez, said that Ancier will continue with his suit against Egan.

“We have maintained from the outset that Mr. Egan’s vile accusations against Mr. Ancier were lies.  Mr. Egan has since dismissed his lawsuit against Mr. Ancier; has been reprimanded for lying to a federal judge in open court; and has now been indicted by a federal grand jury for the very serious crimes of securities and wire fraud for allegedly lying to multiple investors about himself and his activities,” Fernandez said. “Mr. Ancier will continue to pursue his malicious prosecution case against Mr. Egan and his former counsel.”

Pamela Chelin contributed to this report.