Ponzi scheme costs ATM investors $125M
IN THIS ARTICLE
- Banking & Finance Topic
- pacbiztimes Author
By pacbiztimes Friday, April 15th, 2016
A Santa Barbara-based law firm filed a class-action lawsuit that aims to recoup losses of an alleged 1,300 victims — including some in the Tri-Counties — caught up in an estimated $125 million Ponzi scheme. Joel Gillis and Edward Wishner allegedly sold investors on automated teller machines that often didn’t exist. Over a 15-year span,…