The US Attorney charged Henry Paul Regan with running a fraudulent scheme. This Ponzi-like scheme victimized hundreds. The scheme created losses of over $50 million. The charges concern Next Level notes.
“Paul Regan allegedly defrauded over 300 investors of more than $60 million through false promises of protected investments and guaranteed returns while using these deposits to quietly repay other entities,” per the FBI. “This alleged scheme was shrouded in deceit to entice hundreds of clients before ultimately betraying their confidence and their savings. The FBI will continue to investigate all widespread schemes exploiting the wallets of victims, regardless of where the defendant may be located.”
From at least 2022, Regan and his team of defrauded hundreds of investors through two entities, Next Level and Yield. Regan made false and misleading statements for both. Regan and his co-conspirators misrepresented how Next Level and Yield would use investors’ money. He also misrepresented protections investors would have against losses. These misrepresentations fraudulently induced over 300 people to invest more than $60 million in the Next Level and Yield investment products. When investigators eventually exposed the fraud, Regan closed Next Level and Yield. The closure left investors with over $50 million in losses.
Jeffrey Pederson defends investors. Call for information on this or other investment fraud.
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