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Texas man pleads guilty in $2.1 million ‘meme stock’ Ponzi scheme

Carl Channing Spence ran a Ponzi scheme promising 10-12% returns on meme stock trading, defrauding investors of about $2.1 million, with sentencing set for April 14.

Summary by KRIV
A Mont Belvieu man faces up to 20 years in prison after pleading guilty to running a $2.1 million "meme stock" Ponzi scheme that defrauded his friends and colleagues.

3 Articles

The Baytown SunThe Baytown Sun
Lean Right

Mont Belvieu man pleads guilty to $21 million 'meme stock' Ponzi-scheme

Carl Channing Spence admitted to operating “AEI Financial” out of his Mont Belvieu residence from January 2022 through August 2023.

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KRIVKRIV
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Texas man pleads guilty in $2.1 million ‘meme stock’ Ponzi scheme

A Mont Belvieu man faces up to 20 years in prison after pleading guilty to running a $2.1 million "meme stock" Ponzi scheme that defrauded his friends and colleagues.

Read Full Article
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KRIV broke the news in on Wednesday, February 4, 2026.
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