Edward Moskop, 64, was sentenced on December 13th for mail fraud and money laundering in relation to an alleged investment
scam. During the hearing, many of the affected investors told their stories,
including an 85-year-old woman who had survived World War II in a labor
camp and intended to use her lost savings to support a relative with Down's Syndrome.
We reported earlier this year on Moskop's alleged
Ponzi scheme, in which he is said to have promised his investors - mostly unsophisticated
and elderly investors - some nice returns. Unfortunately, Moskop is said
to have used the money to fund his own lifestyle while paying out some
of the cash to investors to keep up the appearance of legitimacy. Truth
be told, Moskop already had a history of investment fraud and had already
been barred from selling securities back in 1990.
Many of the investors related stories in which Moskop enticed them with
flowers, gifts, and personal phone calls. One investor was comfortable
enough with Moskop to invite him to his wedding reception. (Although the
investor said that Moskop offered to sell him event insurance for the
wedding after accepting the invitation.)
Moskop was reportedly tearful in the courtroom throughout the hearing
and said, "I will regret this for the rest of my life."
investment fraud attorneys with Meyer Wilson represent investors nationwide who have lost money to
investment fraud, stock scams, and unscrupulous brokers and financial advisors.