SEC Charges Founder in Alleged $16M Ponzi Scheme in New Jersey
WASHINGTON, D.C. – September 11, 2026 (STL.Directory) The Securities and Exchange Commission has charged a New Jersey businessman and two companies he controls with allegedly operating a years-long Ponzi scheme that raised at least $16 million from more than 200 investors, many of whom regulators describe as financially inexperienced and vulnerable. The SEC filed its complaint against Ernest Ossei Boateng, Intercontinental Wealth Network LLC and I Wealth Network LP in the U.S. District Court for the Eastern District of New York on Sept. 10. The alleged scheme operated from at least January 2020 through March 2026 and primarily targeted
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