Fake Billionaire Fund Manager Charged with Running $6M Ponzi Scheme
TL;DR Summary
Former Chicago commodities trader Phillip Galles has been arrested and charged with wire fraud for allegedly stealing over $2 million from victims by lying about investing their money in commodity futures. Galles boasted of owning a non-existent collection of 122 luxury cars and promised phony returns exceeding 200%.
- Fake Billionaire Fund Manager Phillip Galles Charged With Running Ponzi Scheme Bloomberg
- Former investment firm owner defrauded clients of more than $2M, officials say NJ.com
- Fake Billionaire Hedge Fund Manager Ran Ponzi Scam, US Says Yahoo Finance
- $6M Ponzi Scheme: Braggart Hedge Fund 'Tycoon' Busted By Undercover NJ Fed Daily Voice
- Fake Billionaire Busted in Alleged Ponzi Scheme TheStreet
- View Full Coverage on Google News
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