Ponzi scheme Coverage

Cary man sentenced to federal prison for ponzi scheme

Kumar Arun Neppalli, 57, was sentenced to 44 months in federal prison and ordered to pay almost $1 million in restitution to victims in connection with a Ponzi investment fraud scam. Neppalli previously pleaded guilty to 17 counts of wire fraud.

NC man accused of operating $7 million Ponzi scheme to fund 'lavish' lifestyle

The U.S. Securities and Exchange Commission on Thursday charged a North Carolina business consultant with fraud in connection to operating a $7 million Ponzi scheme, according to a news release.

Maggie Brown, WRAL multiplatform producer

Ponzi schemer Bernie Madoff dies in Butner prison at 82

Bernard Madoff, the infamous architect of an epic securities swindle that burned thousands of investors, outfoxed regulators and earned him a 150-year prison term, died in a federal prison early Wednesday. He was 82.

By MICHAEL BALSAMO and TOM HAYS, Associated Press

Lawyer: Release Bernie Madoff, others during virus outbreak at Butner prison

Infamous con man Bernie Madoff is at high risk of dying from the coronavirus and needs to be released from federal prison in Butner, where a major outbreak of the virus continues to spread, his lawyer said Friday.

Joe Fisher, WRAL reporter

Wake Forest investment adviser charged with fraud

A Wake Forest investment adviser has been indicted on federal fraud charges, with authorities saying he bilked investors out of more than $8 million in an elaborate Ponzi scheme.