Philadelphia investment advisor pleads guilty to $1.6M Ponzi scheme
June 15, 2018 at 11:43 AM EDT
Prosecutors said he told investors they would receive their money back within 90 days with up to 10 percent interest. But instead, he used most of the money to“support his extravagant lifestyle, including hotel accommodations, restaurants, spa services, retail shopping, and other personal expenditures.”