El Segundo Ponzi Scheme Targets Latinos
Headline Legal News
An El Segundo woman took $23 million in a Ponzi scheme that targeted Latinos, the SEC says in Los Angles Federal Court. Clelia A. Flores and her business, Maximum Return Investments, took the money from more than 150 people in seven states, by "guaranteeing" 25 percent returns in 45 days, the SEC says.
Flores roped in customers by offering high-yielding investments in oil, gold, and real estate, the SEC says. It claims she spent more than $3.5 million of it on herself, $443,000 to buy a home, and almost $1.5 million to finance MRI's operations and pay for a lavish party to celebrate the company's alleged success.
Flores promised "guaranteed" returns of up to 25 percent within 45 days, according to the complaint. But she allegedly used only $5.6 million to invest in high-risk ventures and start-up companies that never paid MRI any returns. She allegedly ran the scam from 2006 through 2008.
The SEC seeks an injunction, disgorgement, and fines.
Related listings
-
Tainted Chinese drywall shows up in Katrina homes
Headline Legal News 04/14/2009Thomas Stone and his wife rebuilt after their home was flooded by sixfeet of water during Hurricane Katrina, never dreaming they would facethe agony of tearing it apart all over again. They tapped Lauren Stone's 401(k) retirement savings and saved $1...
-
Differing Views in GOP Voting
Headline Legal News 04/11/2009The GOP's struggle over its future and the party's fitful steps to attract minorities are on full display in the differing responses of Republican governors to a major Supreme Court case on voting rights. The court will hear arguments April 29 about ...
-
Texas Court Upheld Civil Verdict
Headline Legal News 04/09/2009A Texas appeals court has upheld a multimillion dollar civil verdictagainst a Florida private prison company in the beating death of aninmate. The 13th Court of Appeals ruled last week that Wackenhut CorrectionsCorp., now known as The GEO Group, and ...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.