elderly investors

Ponzi Scheme Takes Elderly Investors for $4.4 Million

Ponzi Scheme Takes Elderly Investors for $4.4 Million

Last week, federal prosecutors in North Carolina brought charges against Stephen C. Peters, the latest alleged Ponzi operator to hit the headlines. Peters has been charged with diverting more than $4.4 million of retirement savings from elderly investors. Rather than actually invest their money, Peters used it to remodel a ranch in North Carolina, purchase fine art, build a vacation home in Costa Rica, and buy horses.