North Carolina man charged in Ponzi-style fraud scheme
On Friday,
Charlebois bilked victim investors, including friends, family members, and social acquaintances, by falsely promising their money would go into risk-free investments, subscription agreements, and loans.
The
According to allegations in the indictment, Charlebois fraudulently asserted in the investment agreements presented to victim investors that he and his entities held stock options for particular companies and that the investors could purchase the options and gain specified profits.
Instead of investing, the indictment said Charlebois used the money to make Ponzi-style payments to other investors and on personal expenses. Those expenses included private school tuition, mortgage payments, luxury travel, and restaurant meals.
After his court appearance, Charlebois posted bond. He faces a maximum of 20 years in prison and a
The details contained in this indictment are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.
The
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