Ponzi Scheme in Greece

A bank manager from Greece has been arrested on federal charges she assisted a decade-long Ponzi scheme.

Federal prosecutors say Derline Cunningham repeatedly lied to another bank about the creditworthiness of the schemers, the operators of a business entity called Lucian Development.

The access to the credit allowed the Ponzi scheme to continue for several years and cost the victim bank nearly $336,000.

Cunningham is charged with bank fraud and conspiracy. Some of the operators of Lucian have pleaded guilty to fraud charges.


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