Alleged Belleville Fraudster Sentenced to 20 Years after Ponzi Scheme
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."
The respected investment fraud attorneys with the Law Firm of Meyer Wilson represent investors nationwide who have lost money to investment fraud, stock scams, and unscrupulous brokers and financial advisors.
Category: Investment Fraud
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