Friday, March 20, 2009

Update On Atlanta Area Ponzi Scheme Case: Ossie Officially Indicted

James G. Ossie, 49, of Alpharetta, Georgia, was indicted Wednesday on 10 counts of wire fraud for allegedly bilking investors out of as much as $25 million in a Ponzi-type investment fraud scheme. In January, the SEC took action against Ossie and his company, CRE Capital Corporation, freezing his assets and charging him with securities fraud. The CFTC also charged Ossie with commodities fraud. Ossie allegedly promised investors as much as a 20 percent return every 30 days on a proprietary currency trading program.

Read FraudTalk's original post on this story here.

Read the story here and here.

Read the DOJ announcement here.

1 comment:

Anonymous said...

Anyone know if the investors involved will see any of their $$ back? Will they claw back the profits from investors who got in early and actually got some returns?