Ponzi scheme unraveled by feds used CLOs of consumer portfolios
Posted: Fri Sep 21, 2018 6:52 pm
MarketWatch - 9/21/2018 - Francine McKenna - Three men indicted this week for allegedly running a complex half-fake, half-real Ponzi scheme used the promise of high returns from buying, selling and collecting collateralized subprime and defaulted consumer loan portfolios to defraud doctors, lawyers, accountants and small business owners of more than $364 million, according to indictments filed by the U.S. Attorney for Maryland district. Read more @ https://www.marketwatch.com/story/ponzi ... yptr=yahoo