Tag: Albany Ponzi schemes
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Another Ponzi Halted In New York; SEC Says Matthew J. Ryan Targeted Senior Citizens In Scheme Involving Company That Existed In Name Only
American Integrity Financial Co. existed in name only, the SEC said today. Its operator, Matthew J. Ryan, 45, of Troy, N.Y., used the bogus company to fleece senior citizens in a Ponzi scheme by telling them they’d earn “guaranteed” return rates of 3.85 percent to 9 percent each year. It was the second Ponzi scheme…