Miss-Delectable
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Your weekly ScamWatch | Money & Company | Los Angeles Times
Targeting the deaf: A Hawaii man and his company have been ordered to pay more than $6.2 million in restitution, fines and penalties for operating a Ponzi scheme that defrauded 125 investors, all of whom were deaf. Marvin Cooper and his Honolulu-based company, Billion Coupons, promised investment returns of 15% to 25% per month by trading foreign currency and commodity futures. Cooper inappropriately diverted more than $1.4 million for himself, according to the U.S. Commodity Futures Trading Commission. Cooper could not be reached for comment. U.S. District Judge J. Michael Seabright imposed the penalties at the request of the commission. The FBI, Federal Trade Commission and other agencies warn consumers to avoid investments that sound too good to be true.
Targeting the deaf: A Hawaii man and his company have been ordered to pay more than $6.2 million in restitution, fines and penalties for operating a Ponzi scheme that defrauded 125 investors, all of whom were deaf. Marvin Cooper and his Honolulu-based company, Billion Coupons, promised investment returns of 15% to 25% per month by trading foreign currency and commodity futures. Cooper inappropriately diverted more than $1.4 million for himself, according to the U.S. Commodity Futures Trading Commission. Cooper could not be reached for comment. U.S. District Judge J. Michael Seabright imposed the penalties at the request of the commission. The FBI, Federal Trade Commission and other agencies warn consumers to avoid investments that sound too good to be true.