Fraudster Jailed for $25m Rough Diamond Ponzi Scheme
Fraudster Jailed for $25m Rough Diamond Ponzi Scheme December 14, 20 by John Jeffay (IDEX Online) - A fraudster who promised investors high returns a nd no risk in a rough diamond Ponzi scheme has been jailed for seven years by a US court. Jose Angel Aman, 52, and his partners claimed the money would be used to buy colored rough, which they'd sell on at a profit after having the stones cut and polished. Aman claimed the scheme was secured by an inventory he held worth $25m. He had no such diamonds, and simply used money from new investors (typically around $120,000 each) to pay older invest...
Source: idexonline.com