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Harvard Business School grad's Ponzi scheme swindled alums out of $2.9 million, New York attorney general says - TL;DR CNBC

Harvard Business School grad's Ponzi scheme swindled alums out of $2.9 million, New York attorney general says

Publishing timestamp: 2024-02-29 17:20:27


Summary

A Harvard Business School graduate tricked his fellow alumni and associates into investing at least $2.9 million in a Ponzi scheme by claiming to have insider information on Berkshire Hathaway's investments. The scheme resulted in at least one investor taking his own life after losing $100,000. The graduate used investor funds for personal expenses and continued soliciting new investors even after the tragedy.


Sentiment: NEGATIVE

Tickers: BRK.ABRK.B

Keywords: corruptionsecurities fraudbusinessbreaking news: politicspersonal financeberkshire hathaway inclawscrimepoliticsletitia jamesnew yorkbusiness newsfraud and false statements

Source: https://www.cnbc.com/2024/02/29/harvard-business-school-grad-allegedly-swindled-alums-with-ponzi-scheme.html


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