![\"ponzi](\"https:\/\/www.azuse.cloud\/wp-content\/uploads\/2019\/09\/ponzi-e1569419760858.png\")
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ChipNASA sends us a link on an Old school practices of tar and feathering and riding out of town on a rail seem appropriate here, along with a long term sentence in a Federal lockup.<\/p>\n From the article:<\/p>\n By Stephanie Pagones<\/strong><\/p>\n U.S. marshals have nabbed a California man on the run since his March indictment in a $1 billion Ponzi scheme that largely targeted veterans, according to reports.<\/p>\n Scott Kohn, 65, was arrested Saturday on a San Diego beach, according to the Greenville News. <\/p>\n Kohn, the owner of Future Income Payments LLC, was charged with conspiracy to engage in mail and wire fraud. He has been accused of recruiting borrowers \u201cwho were desperate for money\u201d and charging them interest rates that might top 240 percent for cash advances that were repaid through their pensions, according to the FBI and court filings.<\/p>\n That money, in turn, was funneled to investors who had been promised “structured cash flows” and a return of 6.5 percent to 8 percent through Future Income Payments, investigators said. The firm also used money from new investors to cover payouts to earlier clients, the government said.<\/p><\/blockquote>\n Thanks ChipNASA. The rest of the article may be viewed at Fox Business News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"individual<\/del> criminal targeting mostly military Vets with fast money, but with usurious interest payments to float his Ponzi scheme. The Vets were attractive victims because of their steady retirement and\/or disability incomes. <\/p>\n