Princeton couple’s $5 million Ponzi scheme stole from friends to pay for luxury items, vacations..

NJ.com Advanced Media ^ | January 30, 2019

[SMGFan]

A Princeton couple has been charged with orchestrating a $5 million gas and oil company Ponzi scheme that defrauded friends across five states and using the money to pay for an elite school’s tuition, a tropical vacation and high-end shopping, authorities said.

Ford Graham and his wife, Katherine Graham, are accused of operating the scam from January 2012 to January 2014, according to the Attorney General’s Office. The couple peddled unregistered securities to potential investors, claiming they were low-risk opportunities in gas and oil with returns of up to 20 percent, authorities said.

Instead, they used investor money to repay previous investors and withdrew the funds in cash, authorities said. They allegedly financed country club memberships, a vacation to Antigua and private school and summer camp tuition, authorities said. At least $1.9 million came from selling unregistered securities to New Jersey investors, according to the Attorney General’s Office.

[SMGFan]

Always consult your financial advisor before investing with friends./s

[Trump.Deplorable]

I always wonder how does this conversation start

Hey Honey, lets create a phony gas and oil company and get our friends to invest and we can use the money on luxury vacations and golf memberships.

Sounds like a great idea dear, lets do it!

[blueunicorn6]

I’m sorry, but we are going to have to start hanging thieves.

There are too many of them and they aren’t afraid of prison.

[A_Former_Democrat]

Watched Madoff documentaries on cnbc