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Florida Man Targeted Church Members in $35M Ponzi Scam: SEC  

Sunday, Aug 06 2023
Regulatory & Compliance
Written by  PFA News

The Securities and Exchange Commission has charged a Florida man with operating a Ponzi scheme that took elderly church members’ life savings and turned them into his own luxury cars and private plane trips. So reports People.

liturgy g17db0b8dd 640In a statement, the SEC accused currency trader Brent Seaman from Naples, Florida, of “fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering.”

The SEC said that “Seaman allegedly made Ponzi-like payments to investors because he did not generate profits in connection with his trading sufficient to pay investors their required monthly distributions.”

Read the full article from People.

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