Ponzi Suspects Get $52-Million Fine
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From Times Wire Reports
A Salt Lake City judge has slapped a $52-million fine on the operators of an alleged Ponzi scheme that defrauded 600 investors nationwide. U.S. District Chief Judge David Sam signed a judgment after the defendants failed to respond to a complaint filed last year by a court-appointed receiver. The complaint alleged that a group of companies and people raised over $20 million by promising investors a 20% return on three-year notes.
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