Monday, March 25, 2013

People Who Know The Biz is Illegal, then Actively Conceal it, can be PROSECUTED!

A New York woman, who was prosecuted for aiding a Ponzi schemer, was sentenced to 18 months in prison.

This woman was the sole employee of Gen See Capital, a Ponzi scheme ran by Richard Piccoli. She was charged with "misprision of felony" (i.e. not reporting something she knew to be illegal) as well as failure to file tax returns. The scam eventually covered $25 MILLION dollars. Piccoli is currently serving 20 years in jail and full restitution of all funds.

The woman in question admitted that she knew the business was a scam, but did not report it to authorities.

Misprision is still active in US Federal Law

In that the participant actively tried to cover up the crime.

Thus, any one who *knew* the enterprise they are engaged in to be illegal, but continued any way, and in fact, attempt to cover up evidence of wrongdoing, may be charged with misprision of felony, a Federal offence.

Ponzi scheme assistants and cheerleaders... the "inner circle"... beware!

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