Wednesday, January 21, 2009

Joseph Forte charged with mail fraud

Joseph Forte, the operator of a Ponzi scheme, was charged with mail fraud yesterday by the Security and Exchange Commission. He could face up to 20 years in prison.

He operated his Ponzi scheme by the system mailing quarterly investment reports as the primary method for misrepresenting his trade performance to individual investors.

For more information, read the Philadelphia Business Journal.

Share this article with your social network, just click below to share now!

No comments: