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La. man arrested in alleged Ponzi scheme
Quick ReadPolice: La. man for creating a Ponzi scheme that cost 200 investors over $11 million
AMITE, La. (AP) — A Louisiana businessman was arrested Thursday on charges he engaged in a Ponzi scheme that cost at least 200 investors more than $11 million, money he allegedly used to finance a lavish lifestyle.
William J. Chaucer Jr., 60, of Ponchatoula, used money invested in his loan companies to pay for more than $400,000 in Mardi Gras expenses, $5,500 worth of plastic surgery and thousands...
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