U.S. Attorney Makes Allegations of “massive Ponzi scheme” in Criminal Complaint

September 20th, 2011

Here is the complaintNo, not what you think.

The amended complaint explains that while X maintained X funds were safe, the X never actually had the represented cash on hand as a result of crediting users’ deposits without actually receiving the money. There was a shortfall of approximately $X as a result of that process.

Hrm.. Still not what you think (redactions are mine)