$10 Million Ponzi Announced in San Diego

SAN DIEGO, Calif. (CN) – A 68-year-old electronics broker in Vista was charged Wednesday with taking people for $10 million in a Ponzi scheme. Steven Bartko claims his business, Starfire Technologies, provided electronics to government contractors and promised 5% to 8% monthly returns, federal prosecutors said.

     Bartko, who is charged with wire fraud, mail fraud and money laundering, also “created invoices that falsely indicated that Starfire had ongoing contacts with government contractors to provide circuit boards and other electronic parts,” the U.S. Attorney’s Office said in announcing the unsealing of the indictment.
     He was arraigned Wednesday and bond was set at $50,000. He is due in court again today, June 2, for a status hearing regarding counsel.

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