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Levitt & Levitt | Because Experience Counts
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Pair accused of scheming $6 million in investment fraud operation

On Behalf of | Aug 29, 2016 | Theft & Property Crimes

Even within one category of crime, there can be an extremely wide variety of situations that lead a person to being accused of criminal activity. Theft is an ideal example of this. For many people in Tennessee, the word “theft” makes them think about someone literally taking an object or perhaps cash from another person or business. This is true but it is not always manifested in a straightforward way. For example, identity theft or fraudulent investment schemes may be ways that people illegally obtain what was otherwise not theirs.

Identifying a true investment scheme is no easy task. What may look valid on the surface may not actually be so and vice versa. Two men who formed a company called Cavalier Union Investments, LLC have recently been charged with launching and running a Ponzi scheme. Reports allege that the pair did at one point have legitimate investments in the form of restaurants but those have been closed since 2014.

The men are said to have collected $10 million, much of which came from elderly people. They are accused of using as much as 60 percent of the money that they collected for personal needs, not for their business venture.

Discovering what is true business and what is fraud is not easy. Tennessee people who find themselves accused of illegal activity in the business world may want to consult with an attorney to learn how they may appropriately defend themselves.


Source: Philly Voice, “SEC charges former Philadelphia Eagle linebacker in alleged Ponzi scheme,” Justice Bennett, August 10, 2016


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