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In an Amish village, the SEC alleges a Madoff-like fraud

Publié par Clifford Armion le 17/02/2011

David S. Hilzenrath

"The personal assets of Monroe L. Beachy, a 77-year-old Amish man, included a horse, buggy and harness. According to the Securities and Exchange Commission, his skills included financial fraud.

"Beachy spent a quarter-century raising $33 million from more than 2,600 investors, the overwhelming majority of them fellow members of the Amish community, which often shuns modern conveniences such as automobiles.

"But Beachy's investment approach allegedly had more in common with the timeless methods of Charles Ponzi and Bernard Madoff than with the sheltered village of Sugarcreek, Ohio, where he lived. When the SEC charged him with fraud on Tuesday, it said he had lost nearly half of his investors' money."

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Pour citer cette ressource :

"In an Amish village, the SEC alleges a Madoff-like fraud", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), février 2011. Consulté le 26/09/2020. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/in-an-amish-village-the-sec-alleges-a-madoff-like-fraud