SEC Shuts Down $50M Internet Ponzi Scheme.(Securities and Exchange Commission accused Charis Johnson)

Publication: eWeek

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COPYRIGHT 2006 Ziff Davis Media Inc.

WASHINGTON (Reuters)--U.S. regulators last week charged the owner of 12dailypro.com and her two companies with fraud for running a $50 million Ponzi scheme, according to a statement released on Monday.

The U.S. Securities and Exchange Commission alleged that Charis Johnson, 33, raised more than $50 million from more than 300,000 investors by convincing visitors to the Web site that they could earn a 44 percent return on their investments in 12...

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