SEC Charges Two Florida Men in Ponzi Scheme Defrauding Teachers and Retirees
The Securities and Exchange Commission today charged two Florida men with operating a Ponzi scheme disguised as a purported private equity fund that fraudulently raised approximately $22 million from more than 100 investors, many of whom were Florida teachers or retirees.
http://www.sec.gov/news/press/2011/2011-171.htm