Federal prosecutors say a St. Anthony, Minnesota man has pleaded - TopicsExpress

Federal prosecutors say a St. Anthony, Minnesota man has pleaded guilty to defrauding investors of more than $19 million. Herman claimed he could purchase small appliances from manufacturers and wholesalers at below-retail market rates, according to court documents. He told victims he could re-sell the inventory and they would get their money back, with a 30 percent rate of return, within 90 days of the sale. Story: cbsloc.al/112wmPr

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