SEC Says Aging Drug Smuggler|Also Stole From Elderly Investors

CHICAGO (CN) - Rick Boros aka Vincent Kwiatkowski swiped $1.2 million from old people by promising them 1,500 percent returns on investments in his company, North American Mining Ventures, the SEC claims in Federal Court.

Boros stole money from elderly people and retirees by promising enormous returns on "his 'low-risk' gold and silver mines in Durango, Mexico," the SEC says. It says Boros used his Kwiatkowski alias to run the scam. "Boros has used this alias for over 30 years and has obtained a second birth certificate and a Social Security number under this alias," the SEC says.

He took the money from at least 17 people, spent at least $358,358 on his own credit card debt, to lease three BMWs, and to pay for his daughter's college tuition, and put another $132,750 of his suckers' money into his own bank accounts, the complaint states. He also spent money on clothes and fripperies for his wife and secretary, "repeatedly refused to return the investors' funds" and gave them "a variety of excuses," the SEC says.

Boros, 67, formerly of Oak Brook, now lives in Hinsdale. He was convicted in May of drug smuggling conspiracy and money laundering and is awaiting sentencing.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit