SEC sues the ‘Amish Madoff’

A Securities and Exchange Commission case against 77-year-old Monroe Beachy, who the agency says lost nearly half the $33 million his investors — mostly Amish — put in over 25 years, has earned him the nickname “Amish Madoff.” NPR says “Beachy is accused of fraud because he told investors that their money was going into safe, secure government securities — when in fact he was pouring much of it into far riskier investments and then lying about the losses he was racking up.” | More from the Washington Post

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