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A federal lawsuit filed Thursday alleges that Wells Fargo was aware that Las Vegas attorney Matthew Beasley was operating a multimillion-dollar Ponzi scheme through his bank account.
Matthew Beasley was indicted Wednesday in connection with the Ponzi scheme, which prosecutors allege he used to fund an “opulent lifestyle.”
The investment was pitched as a nearly risk-free opportunity to earn annual returns of 50 percent. There was just one problem, the SEC charged in a civil complaint. None of it was real.