NC Man Charged In $3.2M Ponzi Scheme

Law360, New York (May 20, 2011, 6:01 PM EDT) -- A purported money manager was indicted Wednesday in North Carolina for allegedly running a Ponzi scheme that duped commodities trading investors out of more than $3.2 million he used to fund business ventures and purchase real estate, according to prosecutors.

Nicholas Cox was charged with conspiracy to commit mail fraud, seven counts of mail fraud and one count of conspiracy to commit money laundering, the U.S. Department of Justice announced.

The criminal indictment comes more than eight months after the U.S. Commodity Futures Trading Commission brought...
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