FundAmerica Founder Still Out on Bail: The...
FundAmerica Founder Still Out on Bail: The Florida judge presiding over a criminal case against FundAmerica founder Robert T. Edwards ordered the Newport Beach resident to surrender his passport Wednesday but denied the prosecution’s request to increase his $1-million bail. Edwards is facing charges of organized fraud, securities fraud and running an illegal lottery or pyramid scheme in Florida. Authorities claim that FundAmerica bilked consumers out of $8.2 million. If convicted, Edwards could receive 65 years in jail.
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