August 31, 2020 BY Steffy Bogdanova

US regulators charge three companies and their principals in a $28 million Ponzi scheme

The complaints allege that between 2017 and 2020, approximately 1,200 contributed around $28 million the 1st Million Pool. The defendants misappropriated around $7 million of those and used them to buy expensive cars, personal travel and living and business expenses. Kelly L. Gibson, Director of the SEC’s Philadelphia Regional Office said: As alleged in our…

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