Rienzi Edwards and Other Individuals Allegedly Orchestrated an International High-Yield Investment Fraud Scheme Program Referred to as the “Cities Upliftment Program,” or CUP; Edwards Allegedly Told Investors that CUP was Operated by the New York Federal Reserve
Preet Bharara, the U. S. Attorney for the Southern District of New York, recently announced that Rienzi Edwards and five other individuals allegedly orchestrated an international high-yield investment fraud scheme known as the “Cities Upliftment Program,” or CUP, according to Reports from the U.S. Attorney’s Office (Southern District of New York) under review by attorney Alan Rosca.
RoscaLaw attorney Alan Rosca is investigating Rienzi Edwards’ alleged high-yield investment fraud scheme.
Investors who believe they may have lost money in activity related to Rienzi Edwards’ alleged high-yield investment fraud scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Rienzi Edwards, Michael Jacobs, Ruby Handler-Jacobs, F.K. Ho, Lawrence Lester, and Rachel Gendreau, from at least June 2013 through August 2016 allegedly operated said scheme, according to the aforementioned Reports.
Edwards allegedly operated and principally designed the aforementioned scheme with the help of Jacob and Handler-Jacobs, was marketed to investors globally via brokers, including Ho, Lester, and Gendreau, said Reports note.
Bharara, along with Homeland Security Investigations and the FBI announced the unsealing of an Indictment which charges said six defendants with alleged conspiracy, wire fraud, impersonation of Federal Reserve Bank of New York officials, the Reports note.
The CUP International High-Yield Investment Fraud Scheme Program Allegedly Cost Unsuspecting Domestic and Global Investors over $50 Million
Edwards and said individuals, by allegedly using forged and counterfeit Federal Reserve documents, allegedly orchestrated a highly complex international scheme that cost unsuspecting investors both domestically and abroad over $50 million dollars, according to aforementioned Report under examination by attorney Alan Rosca.
The aforementioned defendants also allegedly promised investors that the CUP would generate extremely high returns on their investments, in some cases as much as $150 million for every $1 million invested and that half of the returns would be used to help revitalize American cities recovering from the 2008 financial crisis, the Reports note.
What is more, the other half would be returned to the investors at the rate of $1 million per day for 75 banking days, the Reports note.
Securities Lawyers Investigating
The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Rienzi Edwards’ alleged high-yield investment fraud scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.
Investors who believe they lost money as a result of Rienzi Edwards’ alleged high-yield investment fraud scheme may contact attorney Alan Rosca, for a free no-obligation evaluation of their recovery options, at 888-998-0530 or via e-mail at arosca@roscalaw.com, or through the contact form on this webpage.
