RALEIGH, N.C. (AP) - Federal prosecutors say new charges have been filed against a North Carolina investment adviser already accused of fraud and other offenses connected with a Ponzi scheme.
The U.S. Attorney’s Office said Thursday the new charges filed against 45-year-old Stephen Condon Peters of Raleigh include aggravated identity theft and concealing documents during an examination by the Securities and Exchange Commission.
Prosecutors said Peters orchestrated the sale of promissory notes in exchange for investor funds and an annual return of 8 percent or 9 percent over five years. Instead, the prosecutors say he took large sums of investor money and carried out a Ponzi scheme.
People were interested in these podcasts
Peters was originally indicted last December on multiple charges. A superseding indictment was announced Thursday, and arraignment is scheduled for December.
Please read our comment policy before commenting.