Securities Arbitration Lawyers BlogTexas, Louisiana Senior Investors Targeted in $3.8 M Ponzi Scheme Costing Them Their Life Savings
Retirement planning firm owner allegedly paid for lavish living expenses and more with elderly investors’ money
It has happened again. The Securities Exchange Commission (SEC) has uncovered yet another alleged Ponzi scheme targeting the most vulnerable of investors: the elderly. Clifton Stanley of Galveston, Texas is accused of cheating his elderly investors – those in their eighties and nineties – out of $3.8 million dollars in two related scams.