Three plead guilty in fraud and pyramid scheme
Guilty Pleas in Fraud and Pyramid Scheme
Three Millburn, NJ officials of a small brokerage firm pleaded guilty today to securities fraud and a pyramid scheme that may have included 7,000 people of more than $120 million over a ten year period. The three alleged sold illegal municipal bonds as collateral for personal and commercial loans to benefits themselves and business ventures.
Posted on February 20, 2012, in News and tagged fraud, pyramid scheme, Securities Fraud. Bookmark the permalink. Comments Off on Three plead guilty in fraud and pyramid scheme.