Read the latest news relating to investor claims and broker fraud.

Man Sentenced to Prison for Multimillion Dollar Ponzi Scheme

Posted on Nov 11, 2011

Christopher Bass allegedly used the name of God to help lure about 300 investors into an alleged investment scam that may have cost them a combined $5.3 million.

Mr. Bass allegedly told his investors that they were investing in overseas mobile power plants, and he is said to have promised them high returns on their investments. However, the government accused Mr. Bass of using investor money to fund his country club membership and lavish lifestyle.

Mr. Bass has been sentenced to 12 years in prison for his purported role in this Ponzi scheme, which witnesses say cost them significant amounts of money and financial security.

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