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Water Station Management owner accused of engaging Ponzi schemes by US DOJ, SEC

( August 14, 2025, 18:40 GMT | Official Statement) -- MLex Summary: Ryan Wear and his entities, Water Station Management and Creative Technologies, were accused by the US Securities and Exchange Commission of operating two related Ponzi-like schemes between September 2016 and February 2024 that raised more than $275 million from more than 250 investors. In a separate action, the SEC also filed claims against portfolio manager Jordan Chirico of violating his fiduciary duty by investing his private fund client in the scheme despite his undisclosed conflicts of interest and awareness of red flags. In a parallel action, the US Attorney’s Office for the Southern District of New York announced criminal charges against Wear and Chirico.See attached files. ...

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