SEC CHARGES ASTROLOGER IN PONZI SCHEME

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SEC CHARGES ASTROLOGER IN PONZI SCHEME

According to a Business Standard.com article, former broker Gurudeo Persaud based investments off the lunar cycle.  Persaud used an internet site that made market predictions based off gravitational pull and the lunar cycle to decide how to invest for his clients.  The article also reported that of the approximately $1.1 million dollars he received from investors, Persaud used around $415,000 for his own personal use. Persaud used money he received from one investor to pay off another in a Ponzi scheme to try and hide his misuse of his investors funds.

Of the money he collected from family and friends, he used around $415,000 for his personal expenses and then lost anthoer $400,000 by following the internet service that correlated gravity and the moon to the market.


If you or someone you know has lost money as a result of an investment, please contact Richard Frankowski at 205-747-1903 to discuss your potential legal remedies.

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