Credit: AP
Federal investigators are looking for potential victims in a $28 million ponzi scheme.
From 2017 to May 2019, Largo-based The Smart Partners LLC did business as 1st Million Dollars, soliciting investments from victims in a number of states.
Dennis Jali, John Frimpong and Arley Johnson, who were arrested and indicted in August, allegedly recruited victims to invest at swanky promotional events and church events. They allegedly presented themselves as pastors and claimed their work helped churches and their members gain financial freedom.
The defendants allegedly persuaded numerous victims to give them millions of dollars under the false pretense of investing in the foreign exchange and cryptocurrency markets. However, prosecutors said they instead diverted large amounts for personal use and to pay back other investors.
Seeking Victims in the “1st Million” Investigation
The FBI is seeking to identify potential victims who may have been defrauded through an investment company called The Smart Partners LLC. Starting in 2017 until May 2019, Smart Partners was doing business as “1st Million Dollars,” or “1st Million,” headquartered in Largo, Maryland, but solicited investments from victims in Texas, Georgia, New York, Florida, and potentially other locations.
It is alleged that Dennis Jali, John Frimpong, and Arley Johnson, who have all been arrested, recruited victims to invest in 1st Million by holding promotional events at upscale hotels and event spaces, attending church-sponsored events intended to target investments from churchgoers, and representing themselves as religious men more interested in the philanthropic financial freedom of others than personal financial gain. The defendants allegedly presented themselves as pastors and told prospective investors that 1st Million’s work