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Posted Thursday, November 19, 2009
         
Alleged crooked man who promised to create a "nation of Haitian great many times millionaires" now must pay civil penalties
          
By The Associated Press
            
WEST PALM BEACH, Fla. -- A man accused of bilking thousands of Haitian-Americans of millions in an investment scam where he promised to create a "nation of Haitian millionaires" must pay civil penalties for the alleged Ponzi scheme.
                                 
videoWhere is my money?
                                        
According to court documents, George Theodule will also pay disgorgement and prejudgment interest.

The U.S. Securities and Exchange Commission believes Theodule used his Haitian background to urge Haitian-Americans to form investment clubs and funnel funds through his Florida-based company.

SEC regional trial counsel Robert Levenson says Theodule has agreed to an injunction in the case without admitting or denying any of the allegations against him.

Theodule's attorney declined to comment.
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