BOSTON – The Randolph, Mass., couple of Milendophe Duperier and Vanessa Joseph have entered guilty pleas for their role in a multi-million dollar Ponzi scheme. The fraudulent operation defrauded scores of individual investors out of millions, some having invested their life savings.
Duperier, 33, posed as an investment advisor, while his girlfriend and business partner Joseph, 26, aided in the crime. Between early 2018 and December 2022, they convinced investors that their funds would be invested in securities markets. Instead, Duperier and Joseph used the money for personal expenses and to pay off other investors. The total loss is estimated at over $3.2 million.
In addition to using investor funds, Duperier and Joseph secured small business loans for various entities and distributed them as purported investment returns to victim investors. They also made false statements to delay promised interest payments and principal returns. Both pleaded guilty to one count each of conspiracy to commit wire fraud.
Sentencing is scheduled for October 14, 2025, with potential penalties including up to 20 years in prison, three years of supervised release, and fines totaling up to $250,000 or twice the gross gain/loss from the offense.
The investigation was conducted by the Federal Bureau of Investigation, Boston Division. Assistant U.S. Attorneys Mackenzie A. Queenin and Leslie A. Wright are handling the prosecution. For questions or concerns about this case, contact usama.victimassistance@usdoj.gov.
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Key Facts
- State: Massachusetts
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|White Collar Crime|Organized Crime
- Source: Official Source ↗
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