San Antonio business owner accused of running Ponzi scheme pleads guilty to defrauding investors

Malaysia News News

San Antonio business owner accused of running Ponzi scheme pleads guilty to defrauding investors
Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Earl Roberts Sr. pleaded guilty to a single count of conspiracy to commit wire and mail fraud over his role in a finance company.

  • 📰 ExpressNews
  • ⏱ Reading Time:
  • 10 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

because money from new investors was used to pay earlier investors. That was done"so as not to arouse suspicion amongst investors about the status of their monies," the indictment said.

Earl Roberts has agreed to make full restitution of about $784,000 to his victims while his son has agreed to make about $853,000 in restitution. It's not clear why the amounts differ.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

ExpressNews /  🏆 519. in MY
 

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines



Render Time: 2025-01-12 01:39:47