Ponzi scheme
Michael French also faces criminal charges for allegedly stalking and intimidating a TikTok influencer he once sent $1,000 a day.
Newly obtained documents and audio show Santos and Andrew Intrater had a substantial business relationship years ago.
Celebrity endorsers plugged a real-estate investment that seemed too good to be true. According to prosecutors, it was.
The new Netflix doc “Trust No One: The Hunt for the Crypto King” probes QuadrigaCX co-founder Gerald Cotten, who made off with a bitcoin fortune before (supposedly) dying in India.
“In this country, politics has now been criminalized. That’s what’s going on here,” David W. Schamens claimed in a rambling phone call after he was charged.
Charles Ponzi did not run the first ever Ponzi scheme, but his was the first that was so outrageous in size and scope that the practice would forever be associated with his name.
The heartless fraudster, who died in prison Wednesday, preyed on rich but unsophisticated investors. There were no winners.