NewsWhore
05-30-2012, 03:30 PM
According to the Toronto Globe and Mail, Canadian businessman Derek Elliott has been issued with a complaint from the US Securities and Exchange Commission that he and his former US business associate, James Catledge were behind an international fraudulent scheme. Elliott ran the Sun Village Resort & Spa near Puerto Plata until 2009. The SEC alleges that the pair sold timeshare and ownership in interests in Mr. Elliott's resorts and took in nearly US$164-million from about 1,200 investors, who were "falsely" promised attractive guaranteed returns.
www.theglobeandmail.com/globe-investor/sec-accuses-ontario-man-in-164-million-ponzi-scheme/article2446597/ (http://www.theglobeandmail.com/globe-investor/sec-accuses-ontario-man-in-164-million-ponzi-scheme/article2446597/)
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www.theglobeandmail.com/globe-investor/sec-accuses-ontario-man-in-164-million-ponzi-scheme/article2446597/ (http://www.theglobeandmail.com/globe-investor/sec-accuses-ontario-man-in-164-million-ponzi-scheme/article2446597/)
More... (http://www.dr1.com/index.html#7)