Victims of Fla. investment scam get $10M returned - FOX 35 News Orlando

Victims of Fla. investment scam get $10M returned

Posted: Updated:
ORLANDO, Fla. (AP) -

Hundreds of victims of a Florida investment scam will receive more than $10 million to make up for losses through assets forfeited by the fraud's organizers.

Federal prosecutors say more than 500 people were deceived in the Traders International Return Network fraud. The scheme involved supposedly high returns not available through other investments, purportedly in such things as commodities, gold mines in Africa and lucrative real estate deals.

The money actually wasn't invested in those things. Prosecutors say much of it was stolen by the fraud perpetrators to buy homes and cars and to be deposited in bank accounts they controlled. Three men are serving prison time for running the fraud scam.

In total, more than $15 million was collected from investors.

Follow us on Pinterest

 

FOX 35 Weather Authority

Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices