Public Document

It’s a scheme that goes by many names like the Pyramid and the Matrix. Historically, it was called the “Peter-to-Paul.” We know it best as a Ponzi scheme. And a surprising number of these cases are being prosecuted by the U.S. Attorney’s office here in Charlotte.

Two of the people behind an $850 million Ponzi scheme are due in federal court in Charlotte this week. They're pleading guilty for their roles in defrauding investors worldwide, including more than 1,500 in the Charlotte area.