Ponzi scheme costs ATM investors $125M

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By Alex Kacik / Friday, April 15th, 2016 / Comments Off on Ponzi scheme costs ATM investors $125M

A Santa Barbara-based law firm filed a class-action lawsuit that aims to recoup losses of an alleged 1,300 victims — including some in the Tri-Counties — caught up in an estimated $125 million Ponzi scheme. Joel Gillis and Edward Wishner allegedly sold investors on automated teller machines that often didn’t exist. Over a 15-year span,…

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