FRAUD I PONZI SCHEME I ELDER ABUSE – San Diegan Ponzi Schemer Fraudulent Acquires Millions from Locals and Elderly Victims
April 25, 2019
More than 35 San Diegans have come forward alleging that their financial advisor, Christopher Dougherty has defrauded them into investing hundreds of thousands of dollars into a Ponzi Scheme. Dougherty would provide the victims with fraudulent documents showing them false returns on their investments with the intention to lure victims into contributing additional funds into the bogus business ventures. Some of Dougherty’s “investors” were robbed of millions and many were elderly clients depleted of their savings and retirement funds. Criminal investigations are currently ongoing.
Earlier this month at a bankruptcy hearing, the US Trustee stated the following: “deception is the basis of a Ponzi scheme … [a Ponzi Scheme utilizes] … new investment money to pay existing investors dividends and the principal gave the false impression that the payments received by investors came from earnings and profits or from a return of their principal”
Numerous local news stations have been following this story.
If you or someone you know has fallen victim to a ponzi scheme, investment fraud or have any questions as to investor rights, we encourage you to call our offices today at 619-432-5145 for a free consultation with one of our Fraud Attorneys and Investment Lawyers.