FTC Settles With Sales Worker In Belize Scam For $86M

Law360 (January 15, 2020, 7:08 PM EST) -- A Maryland federal judge has approved an $86 million judgment against a sales and marketing employee in a Federal Trade Commission case alleging a massive real estate investment scam in a Manhattan-sized development in the country of Belize.

U.S. District Judge Peter J. Messitte’s Tuesday order suspended the full judgment because of Michael Santos’ inability to pay the entire sum, instead giving him two weeks to pay the FTC all of his frozen funds and assets, including $3,127 in cash on hand, $10,807 in six Wells Fargo bank accounts, $8,123 in two Bank of America accounts, $1,326 in a Chase account...

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