Prosecutors bring charges of massive Ponzi schema

Police mug with an American American fraud Charles Pension (1882 – 1949) after the Falsification in Charles Bianchi, Montreal, in the US Prison, after the collapse of its false investors, with early investors in investors paid in investment investors. Such frauds have since been known as Ponzine schemes. (Photo Painting Pictures / Archives Photos / Getty Images)

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Prosecutors in the American Prosecutor for South District New York brought Conspiracy, securities fraud, wire processing and other costs Against Paul Ragan, stating that he defeated the Investment Scheme of Ponzi, which cheated more than 330 investors of more than $ 63 million. In addition to these criminal charges, SEC also submitted Charges of crying civil securities Against the racks in relation to the same activities.

Regan sold its false investments through its companies the following level of LLC investment, giving Bootht Ltd and return capital management. Among the products he sold was the Super Priestal Formal Deposit LP and Mega Professional Deposit of High Yield LP

The Super High Provisional Partnership LP was a limited partnership that is alleged to offer investors fully secured deposits with annual percentage of percentage up to 14 percent.

Monitoring of Mega represented that the private fund is presented to investors insured by deposits of insured deposits with an annual percentage of per cent to 14%

He claimed that times deposits and interested interests with limited partners give guaranteed annual returns as much as 14% compared to three-year conditions. The basis for these payments claimed by the acquisition and sale of unemployed, as well as times of precious metals, as well as time deposits that have created a profit investment in accordance with the affordable act on care and guaranteed by the Federal Government.

Departmental care policies cannot trade third parties, and the Federal Government does not sell or redeem an affordable coverage for care insurance.

SEC appeal Details Regan Telling His Investors That Their Investments Were Fully Insured Saying “We are the first and only company in our sector forecast-grade insurers who are removing risk from our investors by Issuing Financial Guarantee insurance to our Investors, Theeby Making OUR Offering Essentially Risk-Free “Even Telling One Prospective That The Insurance Policy Was A” Bulletproof West “That Provided” All the Melatonin You could Wish for a Good Night’s Sleep. Enjoy 12-15% in Eternity of Every years. “

The next level did not get insurance for the huge most notes and did not maintain insurance for any of them. Instead, appeal It states that he sent investors forged Serute Bonds and counterfeit insurance documents.

Reagan was directly looking for investors and through a network forty insurance intermediaries who pay them to them by the commissions as much as 15%. Regan provided scripts for insurance intermediaries who sell their products. Toward Wall Street JournalInsurance agents hired to help sell securities not permitted for it.

Ultimate The Funds Provided by Investors Were Not Invested In Either Precious Metals Or Affordable Care Act Policies According to the Complaints, Regan Operated His Investment Operation As a Ponzi Scheme In Which He Made Payments to Early Investors With Money From Later Investors Primarily Using The Invested Funds to Advance His Own Lifestyle and to Pay Commissions to Sales People Who Sold The Investments on His Behalf.

American Lawyer Jay Clayton commented“As allegedly, Paul Regan promised high returns, but in reality simply used money from new investors to pay off old investors.”

The Wall Street Journal export that Regan never told its investors that the FINRA Securities Industry was prohibited, including the signature of the dead wife and theft of approximately $ 140,000 from the older older client, and in 2005 appeal Indicates that he confessed to the blame in 2017. to florida charges in connection with the sale of bills of exchange promised guaranteed returns.

The lesson is simple here. No one should ever invest in anything, they do not fully or invest with anyone without giving research a person offered. In this case, it would be a simple question to determine that investing in favorable policies are impossible and everyone who looked at the regane history was forbidden for life Finri.

FiNra’s Central registration You will tell you whether the broker you think of investments is licensed and whether there were disciplinary proceedings against him or her. You can also check with your own office for securities for securities for similar information. Many investment advisors will not be needed to register with the Secu, but are needed to register with their individual security regulators. You can find your state agency by going to website From the northern American administrators of securities