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A Bugatti Veyron, a Gulfstream private jet, and a $330,000 diamond ring: Feds charge 3 men for alleged $364 million Ponzi scheme to fund lavish lifestyle

8 monthes ago   |   By

Federal prosecutors have charged three men in connection with an alleged $364 million Ponzi scheme that could have more than 400 victims nationwide.
The men were indicted on charges of conspiracy, wire fraud, identity theft, and money laundering.
The indictment alleges that the three men took $73 million of investors' funds "to purchase and renovate high end homes in Maryland, Texas, Nevada, and Florida, purchase luxury automobiles, jewelry, boats, and a share in a jet plane, gamble $25 million at casinos, and support a lavish lifestyle."
A federal grand jury has indicted three men on...
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An Alleged $364 Million Ponzi Scheme Paid for This Massive Supercar Collection

An Alleged $364 Million Ponzi Scheme Paid for This Massive Supercar Collection

8 monthes ago   |   By

A supercar is a go-to purchase when you run into some extra, possibly illegal cash, which is what federal prosecutors say a now-indicted Maryland man did with the millions he earned from an alleged Ponzi scheme. But he didn't stop at just one, prosecutors say, collecting around two dozen luxury cars, including four...
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