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: FinancialCounselCalifornia Man Indicted for Operating $11 Million Ponzi Scheme
By James Eccleston
Christopher Jackson of Elk Grove, California, was recently indicted by a federal grand jury for wire fraud in connection with a real estate Ponzi scheme that he allegedly operated.
Jackson is believed to have operated the Ponzi scheme through his real estate company, Genesis Innovations, whereby he induced over 75 people to invest approximately $11 million. Contrary to his representations, Jackson used only about $2.5 million of investor money purchase real estate, and allegedly used the remainder of the investor money to support his extravagant lifestyle and to make payments to earlier investors in classic Ponzi scheme fashion.
Eccleston Law represents individual and institutional investors to recover their investment losses caused by securities and investment fraud. Our attorneys also help victims of Ponzi schemes pursue recovery by submitting claims with receiverships established by the SEC or by assisting victims with the filing of a Theft Loss Tax Deduction with the IRS.
If you have lost money investing in Genesis Innovations or with Christopher Jackson, or if you have information about this scheme, please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000.
Full post as published by FinancialCounsel on February 18, 2011 (boomark / email).
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