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April 1, 2009, 12:42 PM ET
Broker Charged in Alleged Charity Fraud Scheme
A federal grand jury has indicated a Tacoma, Wash., investment broker accused of stealing some $6.4-million from investors and charitable contributors, reports the Seattle Post-Intelligencer.
The Securities and Exchange Commission said John Min’s investment scheme targeted area church members and elderly residents, claiming to raise money for aid groups in the developing world but instead using donations to pay for a lavish lifestyle and high-risk investments.
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