Michael S. Goldberg, 38, formerly of Wethersfield, Connecticut, has been arrested and charged in a federal complaint with operating a $20 million Ponzi-scheme investment fraud. The scheme allegedly bilked more than 100 investors over a 12 year period through his company, Acquisitions Unlimited Group, which promised investors 20 percent quarterly returns on the liquidation of assets from JP Morgan Chase. Rather than make investments as promised, Goldberg allegedly used the money for personal use and never had a relationship with JP Morgan Chase. The investors were from Connecticut, New York, Florida, Arizona, California and Vermont. He has been released on $1 million bond. Investigating authorities have asked for assistance from anyone with information about the case to contact the FBI's Hartford office at (203) 777-6311.Read the DOJ announcement here.
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