Posted on 09/13/2010 9:36:23 AM PDT by Inappropriate Laughter
Firm targeted customers in Palm Beach, Broward, Miami-Dade, authorities say
BOCA RATON —
The kingpin of a Boca Raton-based scheme police say defrauded more than 40 people out of more than $600,000 is now in custody.
Lamothe Mildort, 28, was booked into the Palm Beach County Jail on Tuesday and remains there in lieu of $30,000 bail.
He's charged with grand larceny of more than $100,000 and fraud of more than $50,000.
In March, Boca Raton police said they'd broken up Midwest Holding Capital after an investigation lasting nearly a year that also involved the state Bureau of Financial Investigations.
The firm, which generally targeted Haitian-Americans in Palm Beach, Broward and Miami-Dade counties, promised a return of 35 percent to 200 percent on investments but never paid, police said in March.
Three of the company's principals were arrested in March, but Mildort, identified as Midwest's owner and chief executive officer, had remained at large until now.
(Excerpt) Read more at sun-sentinel.com ...
200%??? WOW! If he’d actually invested the money instead of pocketing it, they’d all be RICH right now!/s;)
This chump carries quite a name. Lamothe Mildort?
Lamott Mildork?
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