SEC, DOJ Accuse Ex-Broker and Cohort of Ponzi-Like Investment Scheme

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The Securities and Exchange Commission announced charges late last week against a Finra-barred broker and an accomplice for allegedly raising $13.5 million in a real estate-related Ponzi-like scheme. The U.S. Attorney’s Office for the Central District of California also announced criminal charges against the duo—Brett Barber, 42, of Costa Mesa, Calif., and Louis Zimmerle, 62, of Sacramento.

Barber and Zimmerle, co-founders of BNZ One Capital, a Newport Beach, Calif-based company, allegedly made false promises of profits from…

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