Former Connecticut Man - Karl Ramonas - Guilty of Fraudulent Investment Scheme

Let me invest your money! Oh, and by the way, did I tell you the investment isn’t real? Seems this is true and what KARL RAMONAS, age 42, of Fort Lauderdale, Florida (formerly of Waterbury, Connecticut) plead guilty to.

According to documents filed with the Court and statements made in court, between January 2001 and January 2002, RAMONAS executed a fraudulent scheme to induce individuals to give him money by falsely representing that he would invest the money in an investment account on their behalf.

RAMONAS did not invest the funds. Rather, he took the majority of the funds and converted them to his own use. Further, he told investors that the investments had increased in value when there was nothing to increase.

According to the news release from the US Attorney’s office: RAMONAS falsely represented to investors on January 31, 2001 that the investment account had increased in value when, in fact, more than 85 percent of the funds that were invested in the investment account had been lost. In addition, RAMONAS tricked investors into believing that their money had been and would be used as promised by returning some money to certain investors and falsely representing that it was a profit resulting from an increase in the value of the investment account. The returns to investors, however, were monies received from new and current investors, and were not profits resulting from an increase in the value of the investment account.

This is nothing more than a simple PONZI scheme and one that is sure to collapse. As a business ethics and white collar crime speaker, I know full well the impact of such a scheme. It is that very crime for which I was convicted and spent time in federal prison. While I am not proud of my past - it is my past and one that helped me learn a great deal.

Mistakes can be one of the greatest sources of learning. Do all people learn from their mistakes? NO! However, when we do learn - the learning is often permanent. Today, I serve as a Senior Sales Executive in a public company and travel the nation speaking to groups about the Truth About Consequences. Here are two universal facts: (1) you reap what you sow; and (2) every choice has a consequence.

Make good choices and enjoy the rewards that follow.

Business ethics speaker - Chuck Gallagher - signing off…