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«Italian Madoff» Alessandro Rinchi Finally Found in Monte Carlo



«Italian Madoff» Alessandro Rinchi Finally Found in Monte Carlo

It has become known that the mastermind of the Italian Ponzi scheme, Alessandro Rinchi, lives in the Principality of Monaco after more than 15 years since he was charged with financial crimes and fraud.

In the 1990s and early 2000 the infamous Alessandro Rinchi, was running an investment fraud scheme. He was found guilty and served 4 years in prison due to defrauding the investors as he was running a "Ponzi-like" scheme that totaled around €17 million. The victims of the scheme Alessandro Rinchi were small investors who trusted their savings with the fraudster whereas 2 of the victims committed suicide in despair over their losses.

Currently, the investors are hopeful that the funds that were used for fraud are to be recovered to the rightful owners.

To be continued …



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TAGS: ALESSANDRO RINCHI, SCANDAL, FRAUD, ITALY

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