![]() ![]() Prosecutors compared those to payday loans. The company - based in Hallandale Beach, Florida - made loans to small businesses, called merchant cash advance loans. He also admitted diverting investors' money to businesses benefitting him and his family, without investors' knowledge, the department said. Ruderman also admitted spending 1 Global investors' money on housekeepers, tuition, drivers, insurance payments for his art collection and jewelry, the Justice Department said in a news release Friday. One called the 'Invisible man' of the porn industry by Screw publisher Al Goldstein, Ruderman's family business used to own PlaygirlĪuthorities say Ruderman lied to investors in marketing materials and periodic account statements and claimed they could expect double-digit returns on their investments.įour of Ruderman's co-conspirators have already pleaded guilty for their role in this fraud, including two lawyers who provided him with false legal cover to skirt federal securities laws. but their government ISN'T buying her sob story - and now she has one last chance to avoid being sent back to the UK in handcuffs
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