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crime8h ago
Investors lost at least $40 million on a Florida business that never had a client
- A Florida man pleaded guilty to federal charges tied to a Ponzi scheme that drained at least $40 million from investors.
- Prosecutors say the scheme operated as a business that never had legitimate clients, misusing investor funds.
- Funds were used for personal purchases, including a luxury yacht.
- The plea was reported by the Miami Herald via Tribune News Service.
- Victims faced significant financial losses as details of the scheme emerged.
- The case adds to Florida's history of investment fraud prosecutions.
- The article notes the guilty plea involved purchases funded by fraudulently gained money.
- Officials described the scheme as lacking legitimate client activity.
- The report references a court-ordered plea and ongoing legal proceedings.
- The coverage comes from the Tampa Bay Times’ reporting aggregated from other outlets.
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