LOCAL NEWS
6:20 pm
Thu July 24, 2014

Pyramid Scheme: Ponzi's Lexington Landmark

Another federal case involving fraud and conspiracy is just getting underway at the Moakley Courthouse. Yesterday, the co-owners of Marlborough-based Telex Free were indicted.

James Merrill of Ashland and Carlos Wanzeler are accused of defrauding investors in their company of one-billion-dollars in an elaborate pyramid scheme. Both maintain their innocence.

Of course, the pyramid scheme was made famous right here in Massachusetts, by our own Charles Ponzi, and there's a living testament to the success of his fraud in Lexington of all places.

GUEST

Edgar B. Herwick III of WGBH's Curiosity Desk.