Ponzi Scheme misappropriated $105 million from 400 investors

The Securities and Exchange Commission has charged Daniel Spitzer with the perpetration of a $105 million Ponzi scheme and has since obtained a court order for an emergency asset freeze against the fund manager and his companies. According to the, Mr. Spitzer, a resident of the U.S. Virgin Islands, has operated the scam since at least 2004 and raised more than $105 million from over 400...