50 Victims 'Invested' $3.8 Million In Norristown Man's Ponzi Scheme: Officials

50 Victims 'Invested' $3.8 Million In Norristown Man's Ponzi Scheme: Officials

Some victims lost as much as $200,000 in the scheme, the attorney general's office found.

Norristown man charged with roping 50 people into $3.8 million Ponzi scheme

A Montgomery County man has been charged in a Ponzi scheme that defrauded victims of over $3.8 million. Richard L. McNeil of Norristown allegedly promised at least 50 people steady returns on investments.

MONTCO Male Charged By State Attorney General For Duping Investors In Multi Million Dollar Ponzi Scheme

by Alex Lloyd Gross Pennsylvania State Attorney General Dave Sunday announced that Richard L. McNeil, 59, of Norristown was charged with theft by decption, securities fraud and other offenses. This started from an investigation by the Financial Crimes Section of the Attorney General’s Office. McNeil would make guarantees on peoples money who invested with him...

Montgomery County Man Charged with Duping Dozens of Investors in $3.8M Ponzi Scheme - PA Office of Attorney General

HARRISBURG – Attorney General Dave Sunday announced charges against a Montgomery County man accused of operating a Ponzi scheme that bilked investors of more than $3.8 million, using a ruse that funds would be invested and generate monthly returns. Richard L. McNeil, 59, of Norristown, is charged with felony theft by deception, dealing in proceeds of unlawful activity, violations of the Pennsylvania Securities Act and other related offenses. The…