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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

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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

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Comments
6

Only greedy people can be conned. Whenever one is offered 5-8% per month, one should do two things....due diligence, and ask why if the deal is so great and offering 5-8% a month, why are they selling it???

June 2, 2011

It was W.C. Fields who said, "You can't cheat an honest man." Best, Don Bauder

June 2, 2011

Actually, I believe that quote would be more correctly attributed to Larsen E. Whipsnade. Lulz.

June 2, 2011

Fields played Larson E. (read it Larceny) Whipsnade in the movie "You Can't Cheat an Honest Man." Best, Don Bauder

June 2, 2011

Exactamundo, Harriet.

June 2, 2011

It is said that Burns invented his characters' names from studying Dickens. Best, Don Bauder

June 2, 2011

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