DA VANCE ANNOUNCES INDICTMENT OF TRADING COMPANY AND MANAGERS FOR DEFRAUDING INVESTORS OF $6.5 MILLION

Manhattan District Attorney Cyrus R. Vance, Jr., today announced the indictment of ROBERT DEPALO, 60, JOSHUA GLADTKE, 37, PANGAEA TRADING PARTNERS, LLC. (“PANGAEA”), and EXCALIBUR ASSET MANAGEMENT, LLC. (“EXCALIBUR”) for defrauding foreign investors based in the United Kingdom out of approximately $6.5 million through a private offering in New York.


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