Liz Swain 4:24 p.m., May 24
He Offered Investors More Than 60% a Year
An indictment was unsealed today (June 1) charging Steven Bartko of Vista with running a Ponzi scheme and accusing him of wire fraud, mail fraud and money laundering, according to the U.S. attorney's office.
The indictment charges that Bartko used his electronics equipment brokerage, Starfire Technologies, to woo investors with claims that he was providing electronic parts to the military.
He promised monthly returns of 5% to 8%, says the government, which says he created false invoices indicating that he was a government contractor.
Pictured: Charles Ponzi