A father-son fraudster duo has pleaded guilty to pretending
to be Paulson & Co.
John and Jeffrey Fowler pleaded guilty to conspiracy to
commit mail fraud and wire fraud this week. The two set up a Florida
corporation two years ago called—you guessed it—Paulson & Co. Inc.—and
raised more than $4 million, claiming to be an affiliate of the real Paulson
and promising to invest the money in a good futures program run by the
prominent hedge fund, Forbes reports.
Of course, the Fowlers had nothing at all to do with the
real Paulson, and simply spent the money raised on themselves. The scam went
sour in November of last year.
Father John faces up to 20 years in prison. His son faces up
to five….
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