USA v. Smith
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January 09, 2024
Calif. Adviser Cops To 20-Year Ponzi Scheme Swindling Retirees
A Riverside County investment adviser has admitted to wire fraud in California federal court stemming from a Ponzi scheme he ran for nearly two decades, defrauding unwitting retirees to make sham investments that bilked them out of more than $24 million, according to the U.S. Department of Justice.
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May 22, 2020
Calif. Financial Adviser Charged In Alleged $10M Ponzi Scam
Federal prosecutors have charged and arrested a California-based financial planner and adviser for wire fraud tied to an alleged Ponzi scheme they say he used to dupe 75 victims, mainly senior citizens, into forking over $10 million to invest in securities that didn't exist.