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Friday, April 19, 2024 | Back issues
Courthouse News Service Courthouse News Service

$62 Million Ponzi

Two San Diego men defrauded investors of $62 million through NL Technology, a Ponzi scheme, and spent lots of it on fancy homes, cars, watches and casinos, the SEC claims in a federal complaint.

SAN DIEGO — Jonny Ngo, 32, and Donato “Mick” Baca Jr., 36, both of San Diego, defrauded investors of $62 million through NL Technology, a Ponzi scheme, and spent lots of it on fancy homes, cars, watches and casinos, the SEC claims in a federal complaint.

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