Belleville man suspected in massive ponzi scheme -

Belleville man suspected in massive ponzi scheme

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By Bryce Moore By Bryce Moore


(KMOV)-- A local senior citizen fears she will lose her home, and it is through no fault of her own.
Dora Goff says her problems are directly tied to a metro-east investor, accused in a massive ponzi scheme.
The man in question is Edward Moskop, who ran an investment firm in Belleville for 20 years.
The Security and Exchange Commission describes him as a poor man’s Bernie Madoff, ripping off hundreds of thousands of dollars.
Goff spoke to Marc Cox about the scam.
She gave her late husband’s pension, $95,000, to Moskop in 2007 for him to invest.
Goff would get statements and could even make small withdrawals.
Federal investigators say Moskop never invested his clients money, though, and instead used it to prop up a giant ponzi scheme.
Some lost over a half-million dollars.
Marc went to Moskop’s Belleville home, which is now up for sale for nearly $400,000, but Moskop was not home.
The SEC froze his assets last month, so Dora, who is close to having utilities cut off, cannot get her money.
Moskop’s phone number has been disconnected, and he told a court this month he has no money to pay for food and necessities.
The SEC says Moskop was never licensed by them, nor associated with any brokers.
He is charged with two federal counts of securities fraud.

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