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Jack Cranney Indicted for Ponzi Scheme-Arrested in El Paso, TX

Jack Cranney Indicted for Ponzi Scheme-Arrested in El Paso, TX

Jack Cranney Indicted for Ponzi Scheme-Arrested in El Paso, TX 150 150 Rex Securities Law

John William Cranney, (“Jack”), age 73, of Belmont, MA, was arrested in El Paso, TX, and charged with defrauding investors of more than $6 million, according to a news release from the US Attorney’s Office for the District of Massachusetts.

Cranney had been charged with operating a $10 million plus ponzi scheme by the Massachusetts Securities Division two years ago.

Cranney used his connection with Shaklee Corporation to lure in victims that included family and friends. He faces 20 years on wire fraud charges and 10 years on the money laundering counts.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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