The SEC charged a prominent Miami business leader and his wife with fraud Wednesday, alleging they conducted a $135 million Ponzi scheme involving real estate investments from hundreds of elderly Cuban-American investors. The SEC alleged that Gaston Cantens and Teresita Cantens, founders of Royal West Properties, "portrayed themselves as a pious couple" and gained the trust of investors "in typical affinity fraud fashion by cultivating an impression within their community that it was a privilege to invest with them."
Miami Couple Accused of $135 Million Ponzi Scheme
Daily Business Review
March 5, 2010