Log Out
Visit Par4TheCourse's column >>

PAR4THECOURSE

Home Page
"It is a thousand times better to have common sense without education than to have education without common sense." - Robert Green Ingersoll
Articles Posted: 13  Links Seeded: 27913
Member Since: 8/2009  Last Seen: 2/10/2012

Operator of Malibu-Based 'Cap X' Investment Program Arrested for Allegedly Running $12 Million Ponzi Scheme

Seeded on Tue Feb 9, 2010 7:08 PM EST
Read ArticleArticle Source: US Department of Justice - US Attorney Office
, , , , , , ,
Seeded by Par4TheCourse
advertisement

The promoter of a bogus investment offering involving distressed business assets was taken into custody this morning on federal mail and wire fraud charges that charge him with running a Ponzi scheme in which he raised at least $12 million from victims across the United States.

Peter Jerald Frommer, 34, formerly of Malibu and currently believed to be residing in Carpenteria, surrendered this morning to special agents with the Federal Bureau of Investigation and IRS-Criminal Investigation.

  • Enjoy this article? Help vote it up the 'Vine.

Published to:

Leave a Comment:
You're in Easy Mode. If you prefer, you can use XHTML Mode instead.
Newsvine Privacy Statement
As a new user, you may notice a few temporary content restrictions. Click here for more info.