According to the SEC, Ramil Palafox misappropriated more than $57 million in customer funds, using it to buy Lamborghinis and ...

Federal jurors convicted a New Jersey man on fraud and money laundering charges after his previous 24-year prison sentence over a Ponzi scheme was commuted by President Donald Trump in his first term.

A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi schemes require a constant flow of money ...

“It is my hope that this prosecution will bring some measure of relief to the victims of Marganda’s fraud, who trusted ... when he is released.” The Ponzi scheme leader worked with at ...

An Austin-based real estate lender already under court-appointed receivership is facing allegations that its investment operation was a Ponzi scheme “from the very beginning,” according to the ...

alleging he ran a “Ponzi-like scheme” that defrauded investors of nearly $200 million — and spent $57 million of customer money on Lamborghinis, real estate and luxury goods. Ramil Palafox ...