Catholic World News
US financier charged with Ponzi scheme bilking Church in Venezuela
June 04, 2025
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CWN Editor's Note: The US Securities and Exchange Commission has charged an American financier with operating a Ponzi scheme that defrauded Venezuelan investors—including Catholic parishes and dioceses.
The SEC said that Andrew Jacobs, acting through companies that he controlled, had taken $17 million from investors. Among the victims were Catholic dioceses and parishes, which the SEC said had lost over $3 million.
The above note supplements, highlights, or corrects details in the original source (link above). About CWN news coverage.
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