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Daniel and Matthew Rivera Ponzi Scheme-Robbins Lane

Daniel and Matthew Rivera Ponzi Scheme-Robbins Lane

Daniel and Matthew Rivera Ponzi Scheme-Robbins Lane 150 150 Rex Securities Law

March 30, 2016

The U.S. Securities and Exchange Commission charged Daniel Rivera and his brother Matthew Rivera, and their company, with a $2.7 million Ponzi scheme targeting elderly and unsophisticated investors.

Investors were led to believe that they would share in the profits of Robbins Lane, a Pennsylvania real estate venture. In reality Robbins Lane had no real estate. In classic Ponzi scheme fashion money from early investors was used to pay distributions to later investors giving the impression of a going concern.

Neither admitting nor denying the charges, they consented to entry of a final judgment and will be disgorging over $2 million.

Copy of the SEC complaint.

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