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After Madoff: Most Notable Ponzi Scams

Photo: Alberto E. Tamargo | AETphoto

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Luis Felipe Perez

Nine people in South Florida are facing bank fraud conspiracy charges for their alleged roles in a $12 million scam to obtain commercial lines of credit.

Federal prosecutors said in early February the case stems from a $40 million Ponzi scheme operated by 38-year-old Luis Felipe Perez of Fort Lauderdale. Perez pleaded guilty last year to securities fraud and is serving a 10-year prison sentence.

The latest charges involved an accountant who worked with Perez. Prosecutors say the accountant prepared false loan applications, tax returns, personal financial statements and other documents to help others fraudulently obtain loans from Wells Fargo Bank.

The accountant, 61-year-old Berta Sanders, also previously pleaded guilty and is awaiting sentencing.

Source: The Associated Press

Photo: Alberto E. Tamargo | AETphoto