Friday, February 19, 2010

US:Man Convicted in Haitian Ponzi Scheme

A Tampa man was found guilty this week of running a Ponzi scheme that targeted the Haitian-American community.

A federal jury found Michael J. Muzio, 46, guilty of one count of conspiring to commit wire fraud, two counts of substantive wire fraud, six counts of securities fraud, and two counts of lying to the Securities and Exchange Commission and Federal Bureau of Investigation.

Sentencing is set for April 29.

Muzio, along with three others – Abner Alabre, 33, of Miramar; Brian Taglieri, 39, of Jupiter; and Ronnie Eugene Bass Jr., 37, of Miramar – were charged in October in connection with a scheme to defraud more than 600 investors throughout South Florida and New Jersey out of more than $14 million.

Source: BizJournals

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