Skip navigation


Current DateTime: 08:18:55 10 Nov 2009
LinksList Documentid: 24355697

FEATURED QUIZZES


Current DateTime: 08:18:55 10 Nov 2009
LinksList Documentid: 33793611

Current DateTime: 08:18:55 10 Nov 2009
LinksList Documentid: 24890560
  • Winterizing Your Portfolio

      If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.

  • Investor's Guide to Real Estate

      Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.

  • Alternative Investing

      Stocks and bonds? Sure. But it's a big world out there for investors.

powered by digg
SEC Uncovers Ponzi Scheme Targeting Deaf Investors
By: Bertha Coombs, CNBC Reporter | 19 Feb 2009 | 02:45 PM ET
Text Size

The Securities and Exchange Commission obtained a court order halting an alleged Ponzi scheme by Hawaii-based Billions Coupons and its CEO Marvin R. Cooper that was targeting members of the Deaf community in the U.S. and Japan.

The SEC alleges Billions Coupons and Cooper raised more than $4.4 million from 125 investors since at least September 2007 by holding investment seminars at community centers for investors who were deaf.

The SEC is also alleging that Cooper pocketed at least $1.4 million in investor funds to pay personal expenses as well as purchase a new home.

This is the latest in a series of investor Ponzi schemes uncovered since the mammoth $50 billion investment fraud caused by Bernard Madoff was revealed in December.

More From CNBC.com:

© 2009 CNBC.com
Tools:
Print EmailAdd This share icon
  • digg share

CNBC HIGHLIGHTS

  • From politicians to CEOs to companies, here's your chance to vote for the winners and losers of 2009.
  • With prices well below peak, gems could add some sparkle to your investments.
  • On the anniversary of the fall of the Berlin Wall, many in the former Eastern Bloc recall communism fondly.
  • Do free market libertarians really believe what they say about ethics and shareholder value? The Big Money takes a look.
  • The opening of a virtual pet store in “World of Warcraft” could prove a cash bonanza for Activision-Blizzard.
  • The health care reform bill that passed the House on Saturday will have a much harder time in the Senate.
ADD COMMENTS
Remaining characters


Current DateTime: 06:23:05 10 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 01:04:20 10 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 06:22:21 10 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:02:20 10 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters