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Friday, March 29, 2024 | Back issues
Courthouse News Service Courthouse News Service

Giant Ponzi Scheme

The SEC on Wednesday said it obtained an emergency order shutting down a $345 million Ponzi scheme wherein the operators skimmed at least $85 million; parallel criminal charges were filed in Maryland federal court.

WASHINGTON — The SEC said Wednesday it obtained an emergency order shutting down a $345 million Ponzi scheme run by Kevin B. Merrill, Jay B. Ledford and Cameron Jezierski, from which they skimmed at least $85 million; parallel criminal charges were filed in Maryland federal court.

Categories / Securities

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