A man accused of defrauding investors of more than $4 million in a Ponzi scheme pleaded guilty just before Christmas. Quintin Earl Sponagle, 51, will be sentenced on one count of fraud over $5,000. He was extradited from Panama to face the charge.
Scheme victimized 179 people
The former general manager and principal of Jabez Financial Services Inc., he was arrested in Panama in April 2013. Sponagle, originally from Truro, was extradited from Panama in November 2014, eight years after fleeing. His scheme victimized 179 people, according to authorities. He originally faced three counts of fraud over $5,000 and one count of theft over $5,000, but ended up being convicted of just the one count.
This article is summarized by Canadian Fraud News Inc.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.