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Real Estate Fraud

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SEC claims brothers targeted elderly with real estate Ponzi scheme 

Mar 31, 2016By

A pair of brothers promised “guaranteed monthly income” to senior citizens in exchange for investing in real estate, but instead of providing the approximately 30 “elderly and unsophisticated” investors with returns on their investments, Matthew and Daniel Rivera pocketed the investors’ money and used some it to pay back other investors. This is how the SEC claims it went down.