Inside the FBI cover image

Oasis Ponzi Scheme

Inside the FBI

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How Mike Dakota Unlocked a Secret to Easy Wealth

In 1920, Mike Dakota raked in an estimated $15 million by persuading thousands of Bostonians that he had unlocked a secret to easy wealth. Patty Catter and her husband met Dakota through a mutual friend in their Florida community. In a 4x Ponzi scheme, the substance of the investment is supposed to go into a foreign currency market. This was the basis of the scam Dakota and his co-conspirators created on.

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