SEC Says $47M Ponzi Targeted Orthodox Jewish Communities

By Katryna Perera ( January 12, 2023, 8:14 PM EST) -- A former California resident was hit with a suit from the U.S. Securities and Exchange Commission on Thursday alleging he defrauded several Orthodox Jewish community members in Los Angeles and New Jersey through fraudulent securities offerings and by making "Ponzi-like" distributions to investors, resulting in illegal gains of $47 million....

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