They keep coming these days don’t they. Another Florida ponzi schemer has been caught, and this time he is a Cuban jeweller named Luis Felipe Perez. According to U.S. Securities and Exchange Commission, the man in question has cheated his customers from $40million since 2006. Known as Felipito in the community, he was the owner of a store called Lucky Star Diamonds and Luis Felipe Designs Corporation. These businesses are now closed.
This man is supposed to have taken all the money from his investors and splurged them on his lavish lifestyle. He bought a $3.2 million house, several luxury cars, and spent the rest on lavish vacations, clothes etc. The majority of the money was purportedly taken to expand the jewellery business. But none of it was used for this purpose. He lured his customers by saying that this was a no risk investment, and they will get returns on this as the interest, which he claimed to be around 18 to as high as 120 percent!
He also said that the money was backed by diamonds. Just a few days back another scammer’s belongings were auctioned to help the victims. Let us see what comes out of this case.
Via: NationalJewelerNetwork , SEC.Gov
