Former Navy SEAL Will Stand Trial for Grand Theft, Fraud

A former Navy SEAL already charged with stealing more than $1 million from 11 active and retired SEALs was bound over for trial today on additional felony counts for allegedly stealing $50,000 from a family friend.

Jason Matthew Mullaney faces up to 27 years in prison if convicted.

Following a preliminary hearing today, Judge Frederick Maguire ruled that enough evidence was presented for Mullaney to stand trial on charges of grand theft and fraud in the sale of a security.

Those charges will be consolidated into one case against Mullaney, who allegedly got the SEALS and the family friend to invest in his money-lending business.

Authorities allege that Mullaney used his SEAL status to get others to invest in Trident Financial Holdings and Acquisitions, then transferred the money into his personal bank accounts for his own use.

"The SEALs thought they were investing money, but in reality, Mr. Mullaney was simply spending their money for his own purposes, " Deputy District Attorney Hector Jimenez alleged outside court. "They all lost all their money."

Mullaney will be back in court July 21 for arraignment in Superior Court.

—City News Service