- ORIGINAL NEWS
Harvard Business School grad’s Ponzi scheme swindled alums out of $2.9 million, New York attorney general says
- SUMMARY
A Harvard Business School graduate, Vladimir Artamonov, tricked fellow alumni and associates into investing over $2.9 million in his Ponzi scheme.
The scheme promised high returns of up to 1,000% by supposedly predicting Berkshire Hathaway’s investments.
However, Artamonov lost investors’ money through risky trading strategies and also stole funds for personal use.
The Attorney General’s office acted swiftly to block him from harming more investors, following the tragic suicide of one who lost $100,000.
The office warns that even experienced investors can be preyed upon by fraudsters who leverage personal connections for trust.
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“A Harvard Business School graduate tricked his fellow alumni and associates into investing at least $2.9 million in a Ponzi scheme, New York Attorney General Letitia James said.”
“James’ office said it had secured a court order blocking the grad, Vladimir Artamonov, from harming investors through his fraudulent scheme.”