North Carolina
SEC accuses North Carolina man of operating Ponzi scheme
CHARLOTTE, N.C. (AP) — Federal authorities have accused a North Carolina man of working a $7 million Ponzi scheme that defrauded at the very least 75 buyers and used the cash he gained to make mortgage funds and pay for personal faculties for his youngsters.
The U.S. Securities and Trade Fee mentioned in a information launch that it filed an emergency motion Thursday in U.S. District Courtroom. The grievance expenses Wynn Charlebois of Charlotte and his firm, WC Personal, with violating antifraud provisions.
Based on the SEC’s grievance, Charlebois defrauded the buyers since 2019 utilizing a number of bogus funding alternatives. Many of the victims stay within the Charlotte space, the information launch mentioned.
Most lately, by way of his firm, Charlebois supplied buyers alternatives to share within the income earned by collaborating within the train of pretend choices contracts, the SEC mentioned.
From Might 2019 till final month, Charlebois directed almost $122,000 in investor funds to a non-public college the place certainly one of his youngsters attends college, the SEC mentioned. He paid greater than $65,000 to a non-public highschool the place one other certainly one of his youngsters attends college and almost $3,000 to an area social membership. He additionally made greater than $8,600 in private mortgage funds since Dec. 31, in line with the SEC.
Charlebois declined remark to The Related Press on Friday.