• Scam Diego alerts

The Securities and Exchange Commission today (July 28) charged two San Diego area men, along with a Mexican citizen and four entities, with running a Ponzi-like scheme. Edward Lantz Ferguson of Strong's Capital of Chula Vista told investors they could make 3% to 8.25% a month investing in foreign currency trading. But he used $500,000 to pay earlier investors and for his own personal use, according to the SEC. Joel S. Ley of San Diego's Optimus Fund promised investors 4% a month, but diverted money to earlier investors and to himself, according to the agency. All told, the operators raised $14 million, says the SEC.

  • Scam Diego alerts

Comments

jls619 Aug. 1, 2009 @ 3:48 p.m.

The SEC also charged the sale of unregistered securities. Here's a link to the registration of those securities. It's on the SEC website!

http://www.sec.gov/cgi-bin/browse-idea?CIK=0001445275&action=getcompany

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Don Bauder Aug. 1, 2009 @ 7:48 p.m.

Response to post #11: Maybe it was another entity, not the Optimus Fund, that was considered unregistered. Or perhaps the registration was considered faulty or incomplete. Best, Don Bauder

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Anon92107 July 31, 2009 @ 4:21 a.m.

Actually Don, the San Diego Republican Party has earned their new name of San Diego Ponzi Party for their bloodsucking culture of hate that has destroyed San Diego economic, education, health, and social systems.

However, it must also be admitted that the Democratic Party must be renamed the Braindead Party because they haven't helped prevent the decline and fall of San Diego one damn bit.

Events keep proving that there's something about San Diego politics that is destroying all hope for the recovery and future of San Diego.

The bottom line is that it is The Reader generation that must save itself because both political parties are a total failure.

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Don Bauder July 31, 2009 @ 12:04 p.m.

Response to post #7: Neither political party is doing its job -- but that's true nationally as well as in San Diego. Best, Don Bauder

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Anon92107 July 31, 2009 @ 12:40 p.m.

Our politicians have become as dangerous as drunk drivers holding cell phones next to their ears while the electromagnetic energy destroys their brains.

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Don Bauder July 31, 2009 @ 6:51 p.m.

Response to post #9: Trouble is, people like those you describe have short life spans. San Diego's pols seem to have god-awful long life spans. Best, Don Bauder

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Duhbya July 29, 2009 @ 10:08 a.m.

I find it truly amazing (!!!) that anyone, especially in these times, could fall prey to these types of weasels. 8.25% per MONTH! Makes it difficult to feel sorry for the all-too-willing losers.

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Don Bauder July 29, 2009 @ 10:58 a.m.

Response to post #1: It would be credible if the schemer promised investors that they would LOSE 8.25% per month trading foreign currencies. Best, Don Bauder

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johnegger23 July 29, 2009 @ 1:45 p.m.

1st Red Flag: currency trading in Chula Vista.

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Ponzi July 29, 2009 @ 3:50 p.m.

There's never a shortage of greedy suckers.

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Don Bauder July 29, 2009 @ 9:12 p.m.

Response to post #3: Another red flag: currency trading itself. Best, Don Bauder

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Don Bauder July 29, 2009 @ 9:13 p.m.

Response to post #4: There's one born every second. Or is it every minute? Best, Don Bauder

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