Former Mass. man accused of running multi-million dollar Ponzi scheme

Federal investigators have accused a former Massachusetts resident of running a Ponzi scheme that took millions of dollars from investors after fraudulently telling them their money would finance businesses in Jamaica, according to the U.S. Attorney’s office.

Mark Anderson Jones, 64, was arrested Sunday at the Miami airport and charged with wire fraud, authorities said.

Jones, who has been residing in Jamaica, is accused of garnering around $10 million from more than 20 investors — some of whom are from Massachusetts — between 2007 and 2015. He allegedly told investors that their money would be used as “bridge loans’’ to fund the interim period between businesses applying for loans and Jamaican banks processing the request and distributing the funds.

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Authorities say that beginning as late as November 2014, Jones stopped using investor money to fund loans and began using new investments to pay back others’ returns. Prosecutors allege that Jones obtained $500,000 in new investments between November and January of 2015.

Wire fraud caries a penalty of up to 20 years in prison and a maximum fine of $250,000.

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