A pair of West Michigan men have been charged for their alleged involvement in a $9 million Ponzi scheme, which operated under the name API Worldwide Holdings LLC. It is alleged that from July 2006 through January 2012, API Worldwide Holdings and its operators ran as a Ponzi scheme promising huge returns on investments. Jeffrey L. Ripley, 59, of Sparta, and Danny Lee VanLiere, 60, of Grand Rapids, allegedly defrauded at least 140 victims of approximately $9 million by selling fake securities. The two men allegedly promised high returns on money invested, but never delivered on their promises to victims. Investigation revealed that victims were allegedly defrauded of amounts ranging from $3,000 to $600,000 each.
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