Stinson Indicted For Alleged $17M Ponzi Scheme

Law360, New York (November 5, 2010, 6:06 PM EDT) -- Real estate investment mogul Robert Stinson Jr., accused by the U.S. Securities and Exchange Commission of running a $17 million Ponzi scheme, now faces criminal charges to go along with the civil suit, in the form of a 26-count indictment alleging wire fraud and money laundering.

The office of U.S. Attorney David Memeger lodged the indictment Thursday in the U.S. District Court for the Eastern District of Pennsylvania, saying Stinson conned hundreds of people into investing more than $17 million in multiple bogus real estate-related hedge...
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