October 05, 2017 BY LeapRate Staff

SEC charges Michael Scronic with multi million dollar options investment ponzi scheme fraud

The U.S. Securities and Exchange Commission today charged a Westchester, New York-based investment adviser with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme. The SEC alleges that, starting in approximately 2010, Michael Scronic began to raise money from at least 42 friends and acquaintances, many of…

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