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Ponzi Scheme Alleged in Hawaii

HONOLULU (CN) - WeCorp took $1.5 million from 20 people in a Ponzi scheme, the SEC says in Federal Court. WeCorp's two principals, Stuart W. Jones and Payton Lowe, told suckers they had "an automated forex trading system with 'built in loss prevention codes' which guaranteed 100% monthly returns ... virtually risk free," the SEC says.

The SEC also sued Gary V. Dubin, Gary Duck, and Nathan P. Ramos.

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