A Randolph, Massachusetts couple has entered a guilty plea for operating a Ponzi scheme that tricked numerous investors, taking millions of dollars from their pockets. Milendophe Duperier, 33, and Vanessa Joseph, 26, confessed to a wire fraud conspiracy charge, setting the stage for an upcoming sentencing on October 14.
The duo was embroiled in the scheme from early 2018 through December 2022. Duperier, posing as an investment advisor, lured individuals with the promise of investing their money in the securities markets. Joseph, his partner in both business and life, abetted these claims. Despite their assurances, the couple diverted funds for personal expenses, lavish cars, and mortgage and credit card payments, instead of placing them into the promised investments, thereby cheating investors out of over $3.2 million, according to the U.S. Department of Justice.
Further digging into their fraudulent activities revealed bold steps, where Duperier and Joseph had applied for, and received, small business loans for numerous entities only to funnel these loans as fake investment returns to their unsuspecting victims. The charges against them also include Duperier providing fabricated statements and excuses to investors regarding the failure to meet the promised interest payments or to return their principal investment. This deceit lasted for nearly five years, entrapping many, some of whom had entrusted the couple with their life's savings.
The charge of conspiracy to commit wire fraud comes with a weighty penalty: a maximum of 20 years in prison and fines possibly reaching up to $250,000 or twice the stolen amount, unearthing the gravity of their offenses. These sentences are predicated on the guidelines and laws that determine criminal case sentencing, as reported by the U.S. Attorney's Office. Leah B. Foley, U.S. Attorney, and Ted E. Docks, Special Agent in Charge of the FBI’s Boston Division, jointly announced the couple's admission of guilt.
If individuals have incurred losses due to Duperier and Joseph's actions, or if they hold pertinent details that could aid the case, they are encouraged to reach out through email at [email protected]. Attorneys Mackenzie A. Queenin and Leslie A. Wright of the Criminal Division are leading the prosecution, ensuring that justice is pursued rigorously in the aftermath of the extensive financial deceit practiced by the couple.
