Broker Hit With Charges Over $40M Ponzi Scam

Law360, New York (March 24, 2009, 12:00 AM EDT) -- The federal government has charged a Folsom, Calif., man with conspiracy, fraud and securities law violations for allegedly leading a $40 million Ponzi scheme involving 150 investors just a week after the U.S. Securities and Exchange Commission slapped the defendant and his partner with a civil suit over the same allegations.

The charges, filed March 18 in the U.S. District Court for the Eastern District of California, include counts of conspiracy, mail fraud, wire fraud, money laundering and securities violations against Anthony Vassallo, 29, who runs...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.