3 USA Retirement Employees Charged In $28M Ponzi Scheme

Law360, Chicago (October 16, 2012, 6:47 PM EDT) -- Two principals and a salesman for USA Retirement Management Services are facing criminal charges that they fraudulently raked in more than $28 million from roughly 120 investors in a Ponzi scheme that targeted Illinois and California retirees, prosecutors said Tuesday.

Firm principal Robert C. Pribilski, 54, is set to be arraigned Thursday on five counts of wire fraud and four counts of mail fraud levied against him in an indictment unsealed late last week. Fellow principal Mahmut Erhan Durmaz, 42, is facing the same counts, though...
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