Arrest made over $80m Ponzi scheme

Last updated 11:58 12/12/2013

Relevant offers

Americas

Swedish woman gets $26 million sex harassment verdict against Wall Street boss Union to sue US goverment over Office of Personnel Management data breach Google self-driving car cuts off competitor Delphi's self-driving car US executions like being burned alive, says Supreme Court justice US Court halts abortion clinic closure TPP fast-track bill signed into law by Barack Obama An interview with the Baltimore cop who's revealing the horrible things he saw on the job Airline ops manager charged in sex sting SpaceX reviewing mountains of data to figure out why its rocket exploded Donald Trump: Two divorces, supports traditional marriage

Police in Peru say they've arrested a 59-year-old man wanted in Ohio for an alleged Ponzi scheme in which US$65 million (NZ$80m) was raised from at least 800 investors in the United States and Latin America more than a decade ago.

Police Colonel Oscar Llatas said Eric Bartoli was arrested Wednesday leaving his oceanfront Lima home, two years after US authorities requested Bartoli's extradition.

The FBI said Bartoli had been wanted since 2003 for crimes including securities fraud, wire fraud and money laundering. 

An FBI wanted notice posted online said he operated Cyprus Funds Inc out of Doylestown, Ohio from 1995-1999, channelling most of the money invested for his personal use and preying on people including retirees.

The FBI said one of Bartoli's partners died and others served prison terms.

Ad Feedback

- AP

Special offers

Featured Promotions

Sponsored Content