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Ponzi Scheme Exposures Continue Nationwide

Since April1, separate Ponzi schemes in Texas, Colorado, Georgia, New York and several other states allegedly bilking investors out of more than $200 million have been discovered.

By Michelle A. Samaad | Updated on April 08, 2009

Since April1, separate Ponzi schemes in Texas, Colorado, Georgia, New York and several other states allegedly bilking investors out of more than $200 million have been discovered.

The Securities and Exchange Commission’s latest discovery was revealed today, alleging that Marietta, Ga.-based attorney Robert P. Copeland promoted investment opportunities with false claims of earning interest of 15% to 18% in a year or less. Copeland allegedly raised more than $35 million from at least 140 investors and used the funds from new investors for personal use.

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