North County man faces civil and criminal charges in alleged Ponzi scheme [Breaking]
Federal authorities have filed criminal and civil legal actions against a North County man for allegedly misleading investors in a Ponzi scheme from 2019 to 2021.
The SEC filed a civil lawsuit against Ramirez, 53, and JMJ Capital last week. In addition, Ramirez was arrested on Friday on criminal charges brought by the U.S. Attorney in San Diego, according to court records. He pleaded not guilty on Monday and was released on bail.The criminal indictment, filed under seal, has not yet been made public. Federal prosecutors have requested that the seal be lifted.
Some investors were told that JMJ Capital provided “invoice factoring” financing of accounts receivable of other businesses. Others believed the company imported personal protective gear during the COVID-19 pandemic. And still others thought the company was rebuilding air conditioning systems for Disney Cruise Lines.
Typical of Ponzi schemes, money from new investors was used to pay promised returns to existing investors, according to the SEC.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The SEC is bullying Kim Kardashian, and it could chill the influencer economyThe SEC's move to slap Kim Kardashian with a $1.26 million fine risks alienating other influencers in the United States, potentially pushing them to countries with more favorable policies.
Read more »
Kim Kardashian pays SEC $1.26 million to settle EthereumMax chargeKeeping up with the Kardashians. Kim Kardashian will pay $1.26 million to the SEC for promoting EthereumMax to her Instagram followers without disclosing the payments she received.
Read more »
Kim Kardashian Responds To $1.26M SEC Fine For Cryptocurrency Pitch & Payments – Update(2:15 PM Updated with Kardashian lawyer statement) Kim Kardashian will pay $1.26 million and has agreed not to promote any crypto securities for three years to settle charges with the SEC that she …
Read more »
Kim Kardashian pays $1.26 million fine for paid crypto ad, SEC saysKim Kardashian has promoted everything from appetite-suppressing lollipops to melon-flavored liqueur to toilet paper, but it was her foray into the murky world of cryptocurrencies that got her into hot water.
Read more »