– United States governments charged two men to court for their involvement in operating a Ponzi scheme
– The men were arrested for securities fraud and wire fraud charges brought by Manhattan federal prosecutors
The United States government on Friday, January 27, arrested and charged two men to court for their involvement in operating a Ponzi scheme.
According to Vanguard, The scheme is used to swindle investors in a ticket-reselling business for popular events, including the smash Broadway musical “Hamilton.”
Joseph Meli and wife
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The accused persons are Joseph Meli, who ran the ticket business, and Steven Simmons, the head of an alternative investments at Sideris Capital Partners.
They men were arrested for securities fraud and wire fraud charges brought by Manhattan federal prosecutors.
Meli, 42, and Matthew Harriton, 52, were separately accused by U.S. Securities and Exchange Commission of orchestrating an $81 million Ponzi scheme by raising money from investors to buy and resell tickets for popular shows.
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Meanwhile, a woman allegedly killed herself after she was unable to withdraw the money she paid into MMM ponzi scheme.
The woman had allegedly taken loans from 4 different places in December and just few days after investing the money with hopes of getting massive returns, the controversial scheme announced the freeze in December.
The woman was said to have left her home on December 28, 2016 to drown herself in River Benue and sadly, her body was discovered on January 2, 2017 by police.
360naze
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