Podcaster's $11M Ponzi Scheme Funds Lavish Lifestyle and NBA Tickets, SEC Alleges
Matthew Motil, a North Olmsted house-flipper who called himself "The Cash Flow King," has been accused by the U.S. Securities and Exchange Commission (SEC) of running an $11 million Ponzi scheme that defrauded dozens of investors. Motil allegedly promised high returns on house-flipping ventures but used investor funds for personal expenses and other business ventures. He faces a lawsuit seeking to recoup money for investors and impose penalties, including a ban on serving as an officer or director of a public company.