Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Prominent Minn. horse-racing couple ran $18 million Ponzi scheme, SEC says


September 2, 2021

Andrew Harnik | Associated Press

The U.S. Securities and Exchange Commission accuses a Minnesota couple of defrauding more than 200 people in a complicated investment scheme.

One of Minnesota's most prominent horse-racing families has been accused of bilking nearly $18 million from 200 investors as part of a long-running Ponzi scheme.

Shakopee residents Jason D. Bullard, and his wife, Angela Romero-Bullard, were accused this week of running a fraudulent investment business by the U.S. Securities and Exchange Commission. The SEC said the couple operated the Ponzi scheme from 2007 to 2021.

The Bullards own Empire Racing Stables LLC, a 24-horse operation that has been one of the top winners at Canterbury Park in recent years.


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