3 charged in $25 million Ponzi scheme

7:20 PM, Sep 20, 2013   |    comments
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ORLANDO, Florida (AP) -- The Securities and Exchange Commission has charged two central Florida business owners and a Michigan man it says was acting as a fake lawyer with running a Ponzi scheme that defrauded investors out of $25 million.

The SEC says in a U.S. District Court for the Middle District of Florida complaint that beginning in 2009, Clermont's Jenifer Hoffman and Apopka's John C. Boschert misrepresented to investors that their firm, Assured Capital Consultants LLC, would invest their money in an offshore trading program and bring in weekly returns up to 50 percent.

The SEC says investors were also told Michigan's Bryan Zuzga was operating as Assured Capital's escrow agent and was a licensed attorney.

None of it was true, according to the SEC. Assured Capital has since gone out of business.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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