Florida Man Charged Over $35M Ponzi Scheme Targeting Elderly Church Members

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A Florida man accused of running a Ponzi scheme that defrauded dozens of elderly and retired church members out of their life savings has been charged, the Securities and Exchange Commission (SEC) has announced.

Brent Seaman — a currency trader from Naples, Florida — was charged by the SEC on Thursday, per a press release shared on the Commission’s website.

In the release, Seaman was accused of “fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering.”

“Many of these investors were elderly, retired, and connected to a Naples church where Seaman was an active member,” the SEC said, alleging “that, from approximately June 2019 until September 2022, Seaman told investors he would use their money to invest in technology companies and to trade currencies and commodities.”

“Seaman falsely promised annual returns ranging between 18 and 48 percent and described the investments as ‘safe’ and the returns as ‘guaranteed.’” the SEC continued.

Content retrieved from: https://people.com/florida-man-charged-over-usd35m-ponzi-scheme-targeting-church-members-7566923.

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