New Criminal Suit Says Ponzi Schemers Lied To SEC

Law360, New York (November 1, 2007, 12:00 AM EDT) -- A suit the U.S. Securities and Exchange Commission filed last year against the two owners of a benefit counseling service and insurance agency for their alleged investment Ponzi scheme has ballooned into criminal charges of mail fraud and lying to the agency, the SEC said Thursday.

Patrick Meehan, the U.S. Attorney for eastern Pennsylvania, sued IDPM Group Inc. heads Craig Reinhard, who was responsible for sales of services and for seminar presentations, and Debra Bzik, an accountant who manages the Allentown, Penn.-based company's books and transactions,...
To view the full article, register now.