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TLDR:
Ex-NYPD cop, Jason Rodriguez, defrauded investors out of $3.5 million by promising an AI tool for recouping currency trading losses. He quit the NYPD and started a firm called Technical Trading Team to run a Ponzi scheme.
Key Elements:
- Jason Rodriguez, a former NYPD cop, defrauded investors of $3.5 million by falsely promising an AI tool for recouping currency trading losses.
- Rodriguez quit the NYPD and founded Technical Trading Team, running it as a Ponzi scheme with funds from new investors used to pay previous ones.
- Rodriguez lost over $3.2 million in trades and used investor money for luxury car rentals and travel, according to federal prosecutors.
- Rodriguez faces wire fraud conspiracy charges and was released on $200,000 bond.
Full Article:
An ex-NYPD cop, Jason Rodriguez, is facing allegations of defrauding investors out of $3.5 million after starting a firm called Technical Trading Team and falsely promising an AI tool for recouping currency trading losses. Despite quitting the NYPD and presenting himself as a successful trader, Rodriguez ran his firm like a Ponzi scheme, using new investor money to pay off previous investors. Federal prosecutors allege that Rodriguez lost a significant amount through trades and used investor funds for personal expenses like luxury car rentals and travel.
Rodriguez is now charged with wire fraud conspiracy and was released on $200,000 bond. His attorney declined to comment on the allegations. The case highlights the risks investors face when dealing with individuals promising unrealistic returns and using deceptive tactics to attract funds.
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