SEC accuses Boston man of operating Jamaica-linked Ponzi scheme
http://jamaica-gleaner.com/article/business/20160316/sec-accuses-boston-man-operating-jamaica-linked-ponzi-scheme
The United States Securities and Exchange Commission (SEC) said on Tuesday that it has charged a former Boston resident with operating a US$10 million Ponzi scheme that claimed to generate profits from bridge loans to businesses in Jamaica.
The SEC complaint charges former Boston resident, Mark A. Jones, who now lives in Miami and has a second home in Jamaica.
Jones was arrested on Sunday by the Federal Bureau of Investigation, and the US Attorney for the District of Massachusetts filed related criminal charges against him on Monday, the SEC said in a release out of Washington, DC.
According to the SEC complaint filed in federal court in Boston,
Jones began soliciting investors starting around 2007 and said their money would be pooled and used for bridge loans to Jamaican businesses awaiting funds from approved commercial bank loans.
Very curious about that year.