Three Men Acquired Through $364M Ponzi Scheme

Luxurious Lifestyle Acquired By Three Men Through $364M Ponzi Scheme:

Whenever there is a scheme that offers you with good interest, you immediately get attracted to it. But not all such schemes are worth trusting and this can be proved by the $364M Ponzi Scheme recently.

3 men charged in $364 million Ponzi scheme blew investor money on cars, diamonds, casinos, feds say
Source: Compliance Alert

53 years old Kevin Merrill from Maryland along with other two men, 54 years Jay Ledford from Nevada and 28 years Cameron Jezierski from Texas has been charged for the alleged scheme that started way back in the year 2013. The federal prosecutors have charged them of the fraudulence of victimizing about hundreds of people through their $364M Ponzi Scheme.

15 Years Of Imprisonment Sentence:

The U.S. Attorney Office at Maryland soon came up with this information that the two men Ledford and Merrill convinced various people to buy the debt portfolios with the false claim that they would gain profit out of it.

When asked about the profit sources, these men used to say that they get income from sales or other investors. As per the prosecutor, all the tasks and the operations of the scheme were successfully run in Texas.

Robert Hur, U.S. attorney have mentioned that there are many such investors who are realizing recently that they have been a victim in such a case. Of course, a fraudulent scheme something like this can be quite devastating for the country.

Later, it was mentioned by the attorney, that these men collected and invested about $73 million in making their lifestyle an extra lavish one. They have purchased luxurious cars, various properties, jewelry, and even a boat.

So, it can be surely said that as usual, the ultimate goal of the trio was to enjoy a lavish lifestyle in just a short period of time and without making much of honest efforts in earning money.

The Casino:

Not just these three men invested the collected money on having properties and luxurious items, but also they are said to have to spend a good amount on the casino. As per the information, they have spent about $25 million alone in casino gambling.

Luxurious Lifestyle Acquired By Three Men Through $364M Ponzi Scheme:

Finally, these three men, Ledford, Jezierski, and Merrill have been arrested and they are facing a number of charges. Some of the charges that have been imposed of them are for money laundering, identity theft, conspiracy, and wire fraud. They have been charged with such cases and have been sentenced to imprisonment as of now.

Trusting any such short-term scheme can be dangerous. It is important to check out the background carefully before investing your hard-earned money. Often, there are such people who may convince you with such tricky promises and logic. It is your duty to check out the background well. You should know the pros and cons before proceeding ahead with the schemes.

However, people who have already lost their money are now provided support and help. All the people who have faced these three men and have been victimized of the scheme are advised that they should meet up with the FBI so that they can be helped in the case.

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