{"id":3701,"date":"2016-04-08T00:00:00","date_gmt":"2016-04-08T05:00:00","guid":{"rendered":"https:\/\/stockbrokerfraudblog.blawgcloud.com\/2016\/04\/12m_ponzi_scam_may_be_connecte"},"modified":"2020-08-31T10:43:09","modified_gmt":"2020-08-31T15:43:09","slug":"12m-ponzi-scam-may-be-connecte","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/","title":{"rendered":"$12M Ponzi Scam May Be Connected to Possible NYPD Corruption, Reports Newsweek"},"content":{"rendered":"<p>According to a law enforcement source that spoke to <em>Newsweek<\/em>, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet Peralta and an investigation that the FBI is conducting into allegations of corruption at the NYPD. Peralta, who is the purported mastermind of the alleged scheme, has been arrested.<\/p>\n<p>According to a federal indictment, investors thought they were investing in Peralta\u2019s wholesale liquor business. Instead, he used $700K of their funds on liquor and over $11 million to pay earlier investors, purchase spa treatments and cover his other expenses. Peralta purportedly lied when he told investors that he was the owner of the West 125th Street Liquors. (The business belongs to his sister.) One investor gave Peralta over $3.5M.<\/p>\n<p>Peralta is charged with wire fraud. At least 12 investors were allegedly bilked. Peralta is said to have promised them regular interest rate returns that he claimed would come from profits made by his business. Instead, he misappropriated the money.<\/p>\n<p>Now, <em>Newsweek<\/em> is saying that the liquor scam may be tied to the FBI&#8217;s NYPD probe. The FBI is reportedly looking into whether senior members of the police department received gifts in exchange for favors from two businessmen who invested with Peralta.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/#more-3701\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a law enforcement source that spoke to Newsweek, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet Peralta and an investigation that the FBI is conducting into allegations of corruption at the NYPD. Peralta, who is the purported mastermind of the alleged scheme, has been arrested. According to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792],"tags":[],"class_list":["post-3701","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>$12M Ponzi Scam May Be Connected To NYPD Corruption | Investor Lawyers<\/title>\n<meta name=\"description\" content=\"According to a law enforcement source that spoke to Newsweek, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet &#8212; April 8, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"$12M Ponzi Scam May Be Connected To NYPD Corruption | Investor Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"According to a law enforcement source that spoke to Newsweek, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet &#8212; April 8, 2016\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"$12M Ponzi Scam May Be Connected To NYPD Corruption | Investor Lawyers","description":"According to a law enforcement source that spoke to Newsweek, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet &#8212; April 8, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/","twitter_card":"summary_large_image","twitter_title":"$12M Ponzi Scam May Be Connected To NYPD Corruption | Investor Lawyers","twitter_description":"According to a law enforcement source that spoke to Newsweek, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet &#8212; April 8, 2016","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"$12M Ponzi Scam May Be Connected to Possible NYPD Corruption, Reports Newsweek","datePublished":"2016-04-08T05:00:00+00:00","dateModified":"2020-08-31T15:43:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/"},"wordCount":394,"articleSection":["Ponzi Scams"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/","url":"https:\/\/www.investorlawyers.com\/blog\/12m-ponzi-scam-may-be-connecte\/","name":"$12M Ponzi Scam May Be Connected To NYPD Corruption | Investor Lawyers","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2016-04-08T05:00:00+00:00","dateModified":"2020-08-31T15:43:09+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"According to a law enforcement source that spoke to Newsweek, there may be a connection with a $12 million Ponzi scam involving restaurateur Hamlet &#8212; 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