Ponzi scheme scammer arrested for raking in over $3million to fund gambling addiction

A man was allegedly involved in a Ponzi scheme based in Las Vegas that stole over $3 million from investors. He was arrested on 17 charges last Tuesday. According to the police, he utilized the money for both personal and gambling expenses.

The victims believed they were making a legitimate investment in a business that sold expensive watches. In September, the plot was reported to the local police.
 
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