Man In Charlotte Pleads Guilty To Second Largest Ponzi Scheme In American History


Jaymes Meyer was found guilty in a Charlotte courtroom for obstruction of justice regarding his involvement in one of the largest ponzi schemes in American history (second only to Bernie Madoff’s $65 billion fraud).

Paul Burks ponzi schemeIn 2012 the SEC ruled that online marketer Paul Burks of Lexington, N.C. and his company Rex Venture Group convinced over a million customers around the world (including 1,500 from Charlotte) to invest through his website – the company was eventually found guilt of stealing over $592 million from their customers.

Jaymes Meyer now admitted to wiring over $4 million from his Rex Venture’s trust account to another brokerage account under his control within an hour of learning about the massive SEC investigation.

Meyer’s then used the money to purchase homes in Napa and the Turks and Caicos, then made about $1.5 million in improvements, and withdrew about $195,000 in cash, according to court documents.

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