Leader of $200 Million Ponzi Scheme Sentenced to 20 Years in …

Dec 3, 2024 · The conspiracy involved Garcia leading others, including Pavel Ramon Ruiz Hernandez, in an investment Ponzi fraud scheme totaling approximately $190,700,000. …

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Leader Of $200 Million Ponzi Scheme Sentenced To 20 Years In …

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Dec 3, 2024 · The conspiracy involved Garcia leading others, including Pavel Ramon Ruiz Hernandez, in an investment Ponzi fraud scheme totaling approximately $190,700,000. …

justice.gov

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Fort Lauderdale Area MJ Capital Ponzi Scheme Boss Sentenced

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Dec 4, 2024 · Five more possible cronies of Broward’s ‘Mother Teresa’ charged in her $196M fraud ... a $190 million Ponzi scheme. Johanna Garcia, 41, received a 20-year federal prison …

miamiherald.com

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Broward Woman Sentenced To 20 Years In Prison For $190 Million …

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Dec 3, 2024 · Johanna Michely Garcia was the former Chief Executive Officer of MJ Capital Funding, LLC, in Pompano Beach. ... including Pavel Ramon Ruiz Hernandez, in an …

cbsnews.com

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South Florida Woman Who Led $190 Million Ponzi Scheme …

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Dec 3, 2024 · The conspiracy involved Garcia leading others, including Pavel Ramon Ruiz Hernandez, in an investment Ponzi fraud scheme totaling approximately $190,700,000. …

floridadaily.com

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MJ Capital Board Member Gets 9 Yrs For $190M Ponzi Scheme

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Sep 21, 2023 · MJ Capital Funding LLC board member Pavel Ruiz Hernandez has been sentenced to over nine years in prison for his involvement in a $190 million investment Ponzi …

sonnlaw.com

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Florida Woman Who Led A Nearly $200 Million Ponzi Scheme …

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Dec 3, 2024 · A Florida woman who pleaded guilty in a Ponzi scheme that raked in nearly $200 million was sentenced to 20 years in prison. Johanna Garcia received the maximum possible …

nbclosangeles.com

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South Florida Woman Pleads Guilty To $190.7 Million Ponzi Scheme

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Jul 23, 2024 · MIAMI – A Broward County woman is facing 20 years behind bars after pleading guilty to leading a $190.7 million Ponzi scheme. Johanna Michely Garcia, 41, from Broward …

local10.com

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Florida’s ‘Mother Teresa’ Charged In $196m Ponzi Scheme

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Sep 6, 2022 · The Justice Department alleges that Pavel Ruiz, 29, took $6.5m of $42m defrauded from investors through the scheme run by Johanna Garcia’s company. Mr Ruiz has been …

independent.co.uk

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Litigation: SEC Charges Florida Man For Role In $196M Ponzi Scheme

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Aug 31, 2022 · The SEC previously charged MJ Capital and an affiliated company, MJ Taxes and More, Inc., and their principal officer, Johanna M. Garcia, on August 9, 2021 for allegedly …

insurancenewsnet.com

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Head Of Florida’s MJ Capital Funding Fraud Pleads Guilty - Miami …

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Jul 24, 2024 · Five more possible cronies of Broward’s ‘Mother Teresa’ charged in her $196M fraud A Broward woman who called herself ‘Mother Teresa’ admits a $190 million Ponzi scheme

miamiherald.com

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South Florida Businesswoman Receives 20-Year Sentence For $200 …

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In a significant legal development, Johanna Michely Garcia, the former CEO of MJ Capital Funding, LLC, based in Pompano Beach, Florida, has been sentenced to 20 years in federal …

businessdebtadjusters.com

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Florida’s 'Mother Teresa' Johanna Garcia Accused Of Ponzi Scheme

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Sep 7, 2022 · Johanna M. Garcia of North Lauderdale is accused of defrauding over 15,400 investors of up to $196 million through her company, MJ Capital Funding LLC.

nypost.com

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SEC Charges 5 More In Fort Lauderdale Area MJ Capital Fraud

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Oct 2, 2024 · Instead, Garcia’s admission with her guilty plea says MJ Capital operated as a Ponzi scheme from June 2020 through August 2021. Of the $196 million raised, only $923,000 …

miamiherald.com

FAQs about Leader of $200 Million Ponzi Scheme Sentenced to 20 Years in … Coupon?

What happened to MJ capital funding and Pavel Ruiz Hernandez?

As stated in Garcia’s guilty plea, after the FBI and SEC caught up to MJ Capital Funding and shut it down, Garcia and Pavel Ruiz Hernandez — he’s doing nine years in federal prison — and the rest of the MJ Capital gang got to work on a new Ponzi scheme. ...

Was MJ capital a Ponzi scheme?

Instead, Garcia’s admission with her guilty plea says MJ Capital operated as a Ponzi scheme from June 2020 through August 2021. Of the $196 million raised, only $923,000 was used for MCAs. ...

Did MJ capital funding fraudulently solicit money from investors?

The indictment alleges that from about October 2020 to August 12, 2021, Garcia, Pavel Ramon Ruiz Hernandez, and others fraudulently solicited money from investors purportedly to fund MJ Capital Funding, LLC’s MCAs. ...

What is MJ capital funding?

The conspiracy involved Garcia leading others, including Pavel Ramon Ruiz Hernandez, in an investment Ponzi fraud scheme totaling approximately $190,700,000. According to court records, Garcia’s MJ Capital Funding was purportedly engaged in providing merchant cash advances, or MCAs, a type of short-term financing typically used by small businesses. ...

Was Johanna Garcia a Ponzi scheme?

Federal prosecutors say Johanna Garcia's company wasn't a funding miracle for small businesses but a lucrative Ponzi scheme whose co-conspirators spent millions of dollars on luxury items. ...

Are MJ capital scams a criminal crime?

Last week’s charges, being civil and not criminal, won’t result in any of the five joining Garcia, plus Pavel Ruiz Hernandez and Christian Gonzalez who were also sentenced to prison for their MJ Capital scam activities. The SEC charges seek to recover money earned by the scam, to impose civil penalties and limit future financial activities. ...