Rexburg Man to Pay Restitution For Ponzi Scheme

Local

0  Updated at 9:34 am, August 1st, 2012 By: Managing Editor
Share This Story

 (REXBURG) – A Rexburg man has been ordered to pay nearly $12 million in fines and restitution for running a Ponzi scheme. Michael Justin Hoopes allegedly defrauded over $11 million from several individuals for his commodity pool known as Aspen Trading between 2006 and 2011. Federal documents say Hoopes misappropriated funds, among other illegal activities, which included using his clients’ money for personal expenses. 

 

 



Stories You May Be Interested In:

City of Pocatello asking public to report potholes

20 Feb 2017

EastIdahoNews.com staff

McDonald’s Creates Re-engineered Straws for Shamrock Shake

24 Feb 2017

Nate Eaton, EastIdahoNews.com

Sunderland: A heart update — when your genetics turn on you

14 Feb 2017

Nate Sunderland, EastIdahoNews.com