Chicago man charged in Ponzi-type scheme

June 6, 2012 3:40:56 PM PDT
A Chicago man is charged in a Ponzi-type scheme that prosecutors say caused investors to lose $600,000.

Christopher Varlesi faces six counts of mail and wire fraud in the indictment returned by a grand jury.

Varlesi is accused of misappropriating a large portion of the money that 15 people trusted him to invest.

Varlesi was the sole proprietor of Gold Coast Futures and Forex.