Ponzi Web Site Advertisements Used To Sucker New Investors
Authorities are after an Ohio man who allegedly ran a Ponzi scheme that he advertised through a Web site. The Press in Ohio said Terrance Osberger, 48, lured investors with the promise of big returns he published at eagletrades.net. In one instance, prosecutors said Osberger promised investors a 1,000 percent return within 90 days. He is now under indictment for wire fraud and 48 counts of money laundering. All told, the alleged scam took in about $1.8 million, The Press said.