Best Buy Beats Ponzi Scheme Suit Over Bogus Investments

By Bill Wichert (March 21, 2022, 9:19 PM EDT) -- Best Buy has knocked down a lawsuit alleging its employees helped to dupe investors into pumping more than $2.6 million into sham companies involved in a Ponzi scheme, with a New Jersey federal judge finding that the alleged victims failed to demonstrate that the retail giant signed off on the workers' purported misconduct.

U.S. District Judge John Michael Vazquez on Friday tossed the complaint against Best Buy Co. Inc. and a subsidiary from plaintiffs who said they made investments based on employees' misrepresentations during private guided tours of a Best Buy distribution center that it had contracted with businesses run by...

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