"As alleged, based on false promises the defendants bilked investors out of millions of dollars. They lied about how they made money and promised near-certain returns on investment when, in truth, they charged astonishing markups, at times greater than 95%, and defrauded investors."
"The defendants' fraudulently diverted about $27 million of investor money for their own benefit," Peace said, underscoring the scale and intent behind the fraudulent activities.
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