Paul Vivera Abad, 45 was arrested by the Orange County Sheriff's Department for what authorities believe is a million dollar commodities fraud. Abad, who allegedly held himself out as a licensed commodities trader sold investments with promises of significant returns. His company Thirteen Thirty Two Inc. worked with over 10 clients who thought their money was being legitimately invested.
According to law enforcement, Abad told his clients he was a licensed commodities trader when in fact he was not. Under this pretense, he began an investment scheme, trolling investment seminars for potential victims back in January, 2001.
Abad provided clients with false statements showing their investments were growing and on that basis, some clients added to their initial investment. To keep investors at bay, Abad used a ponzi scheme by paying off earlier investors with later investors money Abad, was a customer service representative at Verizon in the city of Irvine at the time of his arrest. Currently, he is in custody at the Orange County Jail.
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