Saturday, 23 August 2014
Last updated 14 hours ago
May 15 2008 | 12:41pm ET
Authorities have arrested a Florida couple for swindling an elderly woman in a hedge fund scam, allegedly stealing a settlement she won after being victimized by another financial schemer.
John and Debra Morehart allegedly promised the woman they would invest her $199,000 settlement in a hedge fund. The two were aware of her settlement from a company selling unlicensed annuities to the elderly when they filled out a blank check taken from the woman, according to the Florida Department of Financial Services.
Instead of investing the money, the pair allegedly used it to buy a million-dollar house on Lake Tarpon, north of St. Petersberg.
The Moreharts were charged with conspiracy, grand theft and crimes against the elderly after their arrest last week. Both posted $115,000 bail.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note