Billion Coupons Inc. Marvin Cooper CaseBelow please find details on another ponzi scheme fraud case from Hawaii.
Marvin Cooper, who allegedly swindled deaf investors through his money management firm-turned Ponzi scheme, is maintaining his innocence despite new evidence uncovered Monday in federal court.Read about other recent cases of hedge fund industry fraud and review resources on hedge fund regulation and compliance within our Hedge Fund Regulation Corner.
"Nobody’s been defrauded," Cooper’s attorney, Michael Glenn told the Honolulu Advisor. "We’re working on an amicable settlement in which the investors will get all their assets back."
According to papers filed by federal lawyers, Cooper, who ran Hawaii-based Billion Coupons Inc., may have been planning to hightail it to Panama after attempting to borrow $534,187 by putting his Kaimuki home up as collateral for a mortgage loan. Authorities believe the property was purchased with client funds. source
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