Securities Fraud
NEW ORLEANS - A Louisiana businessman was charged Friday with engaging in a Ponzi scheme to defraud about 160 investors - mostly elderly people - out of roughly $19.5 million and using some of the money to pay for cars, cruises, sports tickets and a house.
ST. PAUL, Minn. - A Minnesota businessman accused of running a Ponzi scheme and defrauding investors out of billions of dollars said Friday that a 2008 raid by federal agents on his company was unnecessary and caused its collapse.
MIAMI - Investors claiming they were fleeced by a high-profile South Florida attorney filed a $100 million lawsuit Friday contending that the lawyer orchestrated a massive Ponzi scheme with the help of a Canadian bank's U.S.
COLUMBIA, S.C. - Three South Carolina men accused of bilking people out of more than $80 million lied about how they would invest their money, so it doesn't matter if investors knew it was risky, prosecutors said Thursday.
ST. PAUL, Minn. - Minnesota businessman Tom Petters stuck to his story Thursday that he didn't know that his close associates were carrying out an enormous fraud at Petters Co.
