Report– A Warren County man who operated multiple investment and asset management companies has admitted defrauding nearly 480 investors in a $70 million Ponzi scheme, officials said.
Instead, officials said Apostelos used the money to pay for things including $400 per month on Victoria’s Secret lingerie and $35,000 per month on his wife’s horse racing company.
When they were late on interest payments to investors, officials say Apostelos and his wife lied to investors, coming up with reasons including that their bank account had been hacked. The scheme lasted at least five years, beginning in 2009, according to court documents.
Authorities have seized two race horses, vehicles, jewelry, artwork and approximately $650,000 in cash from the couple.
Of course that looks like a guy that would steal $70M and spend $400 a month on Victoria’s Secret lingerie. Look at him, like a poor man’s bald Bernie Madoff. What an asshole this guy is. Fitting we find out about this on Valentines day when you knew he was going to make his wife wear all of that.
$400 a month on lingerie is excessive but it isn’t that crazy. From the zero amount of research I’ve done I think bras are expensive from Victoria’s Secret. Isn’t lingerie more expensive? So it’s not a crazy idea to spend that much. Every girlfriend I’ve had hates the idea of lingerie because it’s just going to come off so what’s the point? Lingerie is for old men and 13 year old boys, both just like to look because they know they can’t perform.
Guys have a dumb idea in their head too, thinking their girl is going to look like Margot Robbie in lingerie opening the door for Leo. She’s not. Imagining this guys wife, assuming shes in her 50’s in lingerie ruined my day.
Then they’re spending $35,000 on race horses too. Horses are fucking expensive, why anyone would want to own one is bananas. No way I’d spend $35,000 a month on my wife’s hobby. That’s $420,000 a year, buy some rental properties the ROI on that is so much higher than a horse. Look at me giving this guy money advice, obviously he knew what he was doing. He did have a fake degree in mathematics, and he was licensed in the same way you were a licensed legal as a college sophomore.
Don’t Be Stupid
“Our bank account was hacked” is exactly what you want to hear out of someone who is investing your money. They took the same approach as Laremy Tunsil at the draft, that’s never a good look. People just want to make money and they’re blind to caterpillar eyebrowed idiots like this guy. You don’t come here for financial advice, but for real. If your investor is wearing a clip on tie and a Kohl’s classic fit button up, maybe shop around.
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