Food Chain Sec Sues Grocery Based Ponzi Scheme
On April 21, the SEC filed a complaint against a Miami business man for allegedly creating a $900 million offering fraud and Ponzi scheme to defraud investors. The Commission claims that Nevin K. Shapiro told investors their money would go to a grocery diversion company that would provide a risk free investment and earn high profits. Instead, the money went to the oh, so stereotypical, mansion, yachts and high livin'....