• December 26, 2014

SEC complaint contends pair operated Ponzi scheme

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Posted: Saturday, December 7, 2013 4:30 am

AUSTIN — Federal prosecutors said two people were charged with operating a Central Texas-based Ponzi scheme that raised nearly $18 million purportedly for investments in oil and gas interests.

Prosecutors said Ponzi payments were made to investors to create the impression they were earning returns on a profitable investment.

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