Defendants Charged In Over $200 Million Water Vending Machine Ponzi Scheme and Related Investment Fraud
… public.” “The scale of this fraud, which resulted in at least $200 million in losses, is simply staggering,” said … investor funds to pay earlier investors while siphoning off millions to expand his traditional vending machine … its investors. Instead, CHIRICO directed the 352 Fund to buy another $19 million of additional Water Station-issued …