SEC Stops Ponzi Scheme of Americans Using Swiss Affiliate and Caribbean Bank

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Monday, June 1, 2009
Author: 
Bruce Zagaris
Volume: 
25
Issue: 
6
Abstract: 
On March 28, 2009, the Securities and Exchange Commission obtained an emergency court order, stopping a $68 million Ponzi scheme involving the sale of fictitious high-yield certificates of deposit (CDs) by St.- Vincent-based Millennium Bank...[more]