Opinion: ‘Better than a 401(k)’? Scammer blew through more than $5 million of investors’ money earmarked for retirement

According to the Securities and Exchange Commission, Marco “Sully” Perez of Midland, Texas, used to tell his clients that his investment scheme was better than a 401(k).

Now the U.S. District Court in Western Texas has ordered the entire operation halted and any remaining assets frozen. The SEC says the investment plan was a “sham” and a Ponzi scheme. Perez blew millions of dollars of his investors’ retirement money living high on the hog, and most of the…

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