Feds Call Philly PE Firms A Ponzi Scheme, Bosses Indicted

By Stewart Bishop (July 3, 2017, 5:08 PM EDT) -- The heads of a pair of purported private equity boutiques last week were charged with running a Ponzi scheme that bilked investors out of $1.5 million, with the bulk of the funds promised to finance real estate deals actually being used for lavish personal expenses....

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