A Surrey man who bilked investors through a Ponzi scheme has been handed a 27-month prison sentence for fraud, according to the BC Securities Commission (BCSC). Roberto Castano was handed the sentence for milking eight investors in a Ponzi scheme in which he issued promissory notes, claiming their money would be invested in stocks. He promised them a 5 per cent return every month on their investments.
Castano was raising money from investors through a company called Skyline Communications, according to the BCSC, and investing it in the stock market through a brokerage account.
Read the full article at South China Morning Post.