The Feds say they just blew up a $1.2 billion Ponzi scheme aimed at thousands of elderly people in F

The US Securities and Exchange Commission has filed charges against Robert Shapiro, alleging he bilked investors — many of them senior citizens — out of $1.2 billion as part of a Ponzi scheme. The SEC says it has frozen all remaining assets as it pursues its case, which includes charges of fraud and violating broker-dealer registration provisions. The US Securities and Exchange Commission has filed charges against a group of unregistered investment funds and their owner, alleging a...