Ponzi scheme among us
Robert Stinson, Jr., head of Life’s Good, Inc. and Keystone State Capital Corp. is facing allegations by the Securities Exchange Commission in connection with operating a Ponzi scheme.
Stinson, of Berwyn, Pa., has been accused of fraudulent activity resulting in $16 million being pulled from 140 investors, the Philadelphia Business Journal reports. The SEC alleges Stinson was using the funds for himself, in addition to sharing it with family and friends and using proceeds from new investments to pay existing investors.
Fifty-five-year-old Stinson’s criminal history includes federal fraud charges.
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