June 18, 2021
Scam/Fraud

California says $5 million Ponzi scam bilked older Filipinos

California’s attorney general has charged 15 people with conspiring to defraud mostly elderly victims of Filipino descent out of a combined $5 million

SACRAMENTO, Calif. — California’s attorney general on Friday charged 15 people with conspiring to defraud mostly elderly victims of Filipino descent out of a combined $5 million.

They’re accused of bilking at least 30 victims mostly in the Sacramento and Stockton areas through what Attorney General Rob Bonta alleged was an international Ponzi scheme framed around the construction of…

Read full article here: abcnews.go.com