Everett Businessman Accused of $200M Ponzi Scheme Involving Water Vending Machines

US charges two in $275M Ponzi case

NEW YORK — A Washington state entrepreneur and a former Jefferies portfolio manager were criminally charged on Thursday over a Ponzi scheme and related fraud involving water vending machines that totaled as much as $275 million, with military veterans among…

DOJ, SEC charge two men in $200 million water vending machine Ponzi scheme

Ryan Wear is accused of raising money from investors by selling them water vending machines that, in many cases, did not exist, the DOJ said.

Ex-Jefferies Fund Manager Accused of Water Machine Ponzi Scheme

A former Jefferies Financial Group Inc. hedge fund manager has been charged with fraud by federal prosecutors in New York for allegedly directing the purchase of nearly $100 million in bonds tied to a water-vending machine business.

Everett businessman accused of $200M Ponzi scheme involving water vending machines

When investors began asking questions, Wear allegedly ran the operation like a Ponzi scheme — using new investments to pay earlier ones.

US Charges Two in $275 Million Water Vending Machine Ponzi Case

Fund manager fell for Ponzi scheme: SEC

Alleged fraudster, fund manager charged in vending machine scam The post Fund manager fell for Ponzi scheme: SEC appeared first on Investment Executive.