DoJ, SEC Charge Utah Ponzi Schemer, Who Blames Obama. Thanks, Obama

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Mark Melin
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An alleged Utah Ponzi schemer, charged by the U.S. Department of Justice and Securities and Exchange Commission with fraud associated with investments in “top secret” Iraqi currency and oil contracts, has agreed to pay $1.7 million in criminal restitution and serve 36 months in prison. When confronted by investors regarding their James Bond-like investment scheme, the fraudsters blamed President Obama for investment losses. Utah Ponzi Schemer guarantees 3000% returns per year, and church investors open checkbook Cache County resident John Scott Clark, who pled guilty in 2009 to bank fraud, money laundering and illegal gambling and in 2011 was charged in…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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