Shakopee Couple Accused In $18M Ponzi Scheme – WCCO
MINNEAPOLIS (WCCO) –A Twin Cities couple is accused of running a nearly $18 million Ponzi scheme, defrauding friends, family members and many elderly retirees.
According to a criminal complaint from the U.S. Securities Exchange Commission, Shakopee residents Jason Dodd Bullard and Angela Romero-Bullard performed the scheme through their controlled entity, Bullard Enterprises LLC. The commission filed the emergency action against the entity and instilled a temporary restraining order and asset freeze to stop the alleged scheme.
The SEC said it has charged the defendants with violating the antifraud provisions of the federal securities laws as well as various injunctions and civil penalties. In accordance with the filing, the SEC said they also named four relief defendants which are additional businesses controlled by…