Dominican Republic

The Con Man by Ken Mitchell Every cloud has a silver lining, even the black cloud of recession.

One of the upsides is that fraudsters running Ponzi schemes hit a wall, as they can’t keep the scheme as their cash dries up.

The latest allegations of property fraud with a Ponzi scheme surround Canadian father and son team Frederick and Derek Elliott.

Lawyers have filed evidence at a Miami Court claiming the pair embezzled $100 million from more than 2,500 investors from all over the world in two separate fraud plots.

The first case, according to the court documents, involves $32 million raised from 1,600 investors between 1987 and 2001 for developing the Sun Village Resort in Puerto Plata, Dominican Republic.