Ponzi Scheme Operator’s Conviction Upheld On Review By 4th Circuit Panel

Mealey's (September 13, 2021, 1:10 PM EDT) -- RICHMOND, Va. — In an unpublished per curiam opinion, a Fourth Circuit U.S. Court of Appeals panel on Sept. 9 affirmed a wealth manager’s conviction on a charge of fraud in the sale of unregistered securities in connection with his alleged operation of a Ponzi scheme, ruling that government prosecutors provided sufficient evidence showing that promissory notes the wealth manager sold were securities....