Compliance & Anti-Financial Crime
Leadership | Insight | Network

AML, Financial Crime, North America

SEC moves to shut down Ponzi scheme worth over $70M; Florida woman charged pending upcoming hearing

By Dan Byrne for AMLi

Emergency measures have been taken by Securities and Exchange Commission in the United States to stop a suspected Ponzi scheme that is suspected of raising tens of millions in fraudulent profits.

The SEC has obtained a temporary restraining order, asset freeze and appointed a receiver the stop the “misappropriation,” of the alleged proceeds – all of which are connected to Florida woman Johanna M. Garcia of Coral Springs in the northern Miami suburbs.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!