Friday, July 20, 2001 | 11:17 a.m.
CARSON CITY -- A man, who twice failed to appear for sentencing after pleading guilty to a cigar investment scam in Las Vegas, has been arrested a third time, the Secretary of State's Office said Thursday. Investigators found Peter Cobo at a bookstore in Henderson Wednesday night, and he was picked up on failure to appear for sentencing and bad check charges.
Cobo pleaded guilty last August in district court to three felony counts of running a bogus investment scheme. He told investors he had exclusive rights to sell Cuban Cigars once the United States lifted its trade embargo with Cuba. He said he had information that was about to happen.
Secretary of State Dean Heller said Cobo was ordered to pay restitution of more than $170,000 to seven of his victims and released on his own recognizance by District Judge Sally Lohrer.
Cobo failed to appear for sentencing on Nov. 14 last year and also did not pay the first four restitution installments of $42,605. He was arrested a second time on Dec. 12. Heller said Judge Lohrer again released Cobo on his own recognizance.
Cobo then failed to appear for sentencing again and has not paid any restitution.
Heller said, "A tremendous amount of time has been expended searching for and tracking this swindler." He said this sends a strong message "that these con artists are committing serious crimes with serious consequences. They should be treated accordingly by the courts."
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