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Posted Saturday, September 19, 2010
Three people were arrested Thursday for their involvement in an investment
scheme targeting Haitian Americans in South Florida.
|Three arrested for
role in Ponzi scheme targeting Haitian-Americans
Those arrested: Irma Jeudy, 62, of Miami, Alix A. Charles, 55, of Orlando and
Albertha Frederic, 35, of Baton Rouge, La.
Investigators found that their scheme lured about 200 investors to send about $3
million to a company called Gen-X Comp. Inc. through commercials aired during
Creole television and radio programs. The investments promised interest payments
that could beat other types of investments, but new customers' money was simply
used to pay interest to existing investors.
From 2003 to 2006, the only income the company generated came from money
deposited by new investors, who invested amounts from $5 to $20,000 dollars at a
time, the Florida attorney general's office said Thursday. In late 2005, the
scheme began to run out money, and victims were asked to be patient about
interest checks that were bouncing.
In some cases, Gen-X investors were asked to invest in a parallel scheme that
promoted the building of homes in Haiti.
If convicted, each defendant could be sentenced to a maximum of 90 years in
prison. Additional arrests could be made, the state attorney's office said.
|Wehaitians.com, the scholarly journal of
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