Woman Charged for Ponzi Scheme Targeting Colombian-Americans
- September 30, 2013
- The Frankowski Firm
A recent SEC press release stated that the commission filed a complaint in federal court against Jenny E. Coplan for defrauding mostly Colombian-American persons into investing in immigration bail bonds. The SEC press release, relaying from the SEC complaint, stated that she allegedly raised approximately $4 million from more than 90 investors in Florida, California, Georgia, Texas, Canada, and Colombia. The SEC alleges that Ms. Coplan told her 90 or more investors that her company, Immigration General Services, worked with an investment broker to invest the funds in immigration bail bonds. Ms. Coplan told her investors these bonds would return a profit ranging from 60 to 108 percent annually, according to the SEC press release. The SEC also alleged that Ms. Coplan told investors that her company was insured by the Federal Deposit Insurance Corporation (FDIC) when it was not. It is alleged in the press release by the SEC that Ms. Coplan used funds from new investors to pay earlier investors what she classified as profits and also took approximately $878,000 of investor money for her own personal use. The U.S. Attorney’s Office for the Southern District of Florida has placed criminal charges against Ms. Coplan. The SEC seeks disgorgement of ill-gotten gains, financial penalties and permanent injunctions in their complaint. If you or someone you know has lost money as a result of a Ponzi scheme investment, please contact Richard Frankowski at 205-747-1903 to discuss your potential legal remedies.