Marguerite Martial Jean Busted for $3.4 Million Ponzi Scheme that Targeted Haitian-American Church Goers
Authorities alleged that Jean used her two companies, MMJ's Warehouse and VLM Enterprise, to lure members of her church into an investment scheme. Jean promised returns as high as 22 percent, and claimed she was buying and selling rice in India with the money.
Instead the money Jean collected went to her personal bank account. She used the income to pay off previous investors, as well as to finance her own lifestyle.
Jean enticed about 293 people to invest in the scheme between January 2007 and October of last year.
Jean is charged with one count of securities fraud, one count of grand theft and one count of organized scheme to defraud.
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