Criminal
Oct. 7, 2000
Jury Convicts Three in Ponzi Scheme
A federal jury on Monday convicted three Los Angeles-area residents of running a $42 million Ponzi scheme in Beverly Hills, promising more than 1,500 mostly elderly investors large returns on bogus gas and oil investments.
Under the names KS Resources, Weststar Exploration Inc. and Lazar Frederick & Co., Mark D. Seigel, John K. Judd Jr. and Betty Ann Rubin promised investors ...
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