George Theodule

George Theodule – A Ponzi Scheme That Cost Victims More Than $68 Million

George Theodule deceived thousands of Haitian-Americans in South Florida’s Haitian community by promising them exorbitant returns and the chance to double their money within 90 days if they allowed him to invest their funds in stock options. His promises of exorbitant returns and guaranteed double returns weren’t true – they could only double their money after ninety days!

He allegedly utilized companies named Creative Capital Consortium and A Creative Capital Concepts to launder investors’ money into his ponzi scheme. Ultimately, Theodule was found guilty of wire fraud and will serve at least 12 years in prison for his crimes.

Early Life and Education

In the first eight years of life, a child’s brain develops at an astonishingly rapid rate. UNESCO believes that Early Childhood Education is essential for emotional wellbeing and life-long learning – making it one of the most significant investments a country can make.

Children who attend early childhood education programs tend to achieve greater academic success in school than their non-attending peers. Furthermore, these children tend to have improved health, social and economic outcomes as adults.

Erikson believed parents and educators have a key role to play in supporting a child’s psychosocial development at all ages. The early years are especially crucial, which is why so much emphasis is placed on nurturing these experiences.

Professional Career

George Theodule operated a classic Ponzi scheme, deceiving investors on Haitian radio and in churches with promises of love for God and an aptitude for investing. He encouraged people to form investment clubs and paid off early investors with money received from later ones.

According to the Securities and Exchange Commission (SEC), Theodule lost at least $18 million trading stocks and options. He also allegedly misappropriated at least $3.8 million for himself and his family.

Attorney Jonathan Perlman and his partner Barry Blum searched through millions of dollars in assets to recover some cash through lawsuits against banks and brokerage houses that ignored warning signs. In the end, they were able to distribute approximately $4.6 million among 1,474 victims of Theodule’s deceptive scheme.

Achievements and Honors

Theodule lured investors to his alleged Ponzi scheme by promising them extraordinary returns on their investments. Additionally, he stated that part of his trading profits would be used to launch businesses in Haiti and Sierra Leone.

He recruited members of a nearby Haitian community to form “investment clubs” in 2007 and 2008. Investors were instructed to invest at least $1,000 per person, with guarantees that their money would double within 90 days.

In reality, much of the money went towards paying off previous investors and even less was invested in new accounts. He misappropriated at least $3.8 million for himself and his family members.

According to financial experts, Theodule’s victims lost their savings, homes and retirement nest eggs in a get-rich-quick investment scheme that turned out to be a Ponzi scheme. On average, they only recovered 10% of their money after investing in what appeared to be an illusory get-rich-quick plan.

Personal Life

George Louis Theodule orchestrated a Ponzi scheme that cost victims over $68 million, promising wealth and abundance to investors from Haitian communities throughout South Florida and beyond through companies such as Creative Capital Consortium and A Creative Capital Concepts.

He promised them that their money would double within 90 days by trading stock options. However, prosecutors allege Theodule only invested a small portion of their funds into trading accounts.

He also took much of the money for himself, spending it on an array of luxury vehicles such as motorcycles and rings. In 2014, Theodule was found guilty and sent to federal prison.

Net Worth

George Theodule had a modest net worth when he was arrested and charged with running a $68 million Ponzi scheme that targeted Haitian-Americans. He made his living by soliciting investors through radio and church programs, promising them double their money in 90 days.

In a classic Ponzi scheme, he paid off early investors with money from those who invested later. Additionally, he invested millions into his luxurious lifestyle, including exotic cars, jewelry and Vegas trips.

Theodule was sentenced to 12 1/2 years in prison for his scam, but many of his victims, many from Haitian backgrounds, were able to receive compensation thanks to court-ordered receiver Jonathan Perlman and attorney Barry Blum’s efforts.

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