There’s nothing worse than a crook, and people who plead not guilty to running Ponzi schemes even rank lower than that. A 63 year old man from Chatsworth, California, managed to fleece something in the neighborhood of $10 million dollars from investors who thought he was operating an apparel business with ties to NASCAR.
We’re certainly not going to blame the victims, but when the guy tells you that he needs the money to start the company because he has $70 million in the bank that he’s “having trouble accessing the money,” that should throw a red flag.
The $10 million came from just 50 people, according to an LATimes.com story. We wonder if he’s going to have his choice of prison cell number. If he does, we wonder what driver’s number he’ll support.