Former Wachovia manager charged in Ponzi-type scam; Other employees allegedly profited from the...
Byline: Bruce Kelly
NEW YORK - A former Wachovia Securities LLC branch manager in Toledo, Ohio, has been charged with stealing between $17 million and $40 million from about 45 investors by using a Ponzi-type scheme, according to the Department of Justice.
Other Wachovia employees invested in the scheme, and the current manager of the same Toledo branch profited from the scam, alleges an attorney who has filed an arbitration claim for two former clients of Wachovia.
Last month, the U.S. attorney's office in the northern district of Ohio filed an
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