Maxwell B. Smith III, 73, of Fair Haven, N.J., was sentenced to 15 years in prison for using $9.8 million of his elderly clients' savings to pay his mortgage, home renovations and vacations to France. Smith pleaded guilty to first-degree money laundering. Smith operated a $9 million Ponzi Scheme, Health Care Financial Partners, for 17 […]

Maxwell B. Smith, a financial advisor from New Jersey, was sentenced to seven years in prison for operating a $9 million Ponzi Scheme. Many clients lost their investments in Health Care Financial Partners. Smith sold investments as a fund that made loans to nursing homes. Smith began soliciting investors in the Ponzi Scheme as early […]