The middle hired Heide out from the pay day loan world in 2017 august.

He handled the funds of Hallandale Beach-based 1 international money, which federal prosecutors say gathered $322 million from 3,600 individuals to spend money on the cash advance industry. The scheme generated a $50 million shortfall covered up by collecting brand new assets, which prosecutors labeled a Ponzi scheme.

Heide, whom joined 1 international money in 2014, said in their plea contract which he misrepresented the firm’s monetary health to investors. Read the rest of this entry »