Gaston Canten Pleads Guilty to $135 Million Miami Ponzi Scheme
Gaston Canten, a prominent Cuban-American businessman who used his ties in the community to bilk victims out of their hard earned money, has officially been charged and has agreed to plead guilty to his part in running a $135 million Ponzi scheme. Canten's scheme went so far that even Belen Jesuit School became a victim.
"The Cantens used their prominent standing in a close-knit Cuban-American community to ruthlessly exploit vulnerable elderly investors who trusted them with their life savings," Eric I. Bustillo, director of the SEC's Miami regional pffice, said in a released statement at the time of Canten's indictment. "They portrayed themselves as a pious couple closely involved with educational and religious organizations, while in reality they were living lavishly off money from defrauded investors."
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