Former Douglas Elliman broker, “Rich Kids of Beverly Hills” star accused of $80M Ponzi scheme
Former Douglas Elliman broker and “Rich Kids of Beverly Hills” star Brendan Fitzpatrick is accused of running a more than $80 million Ponzi scheme. Fitzpatrick, now based in Palm Beach, has been named in a series of lawsuits tied to Carbonatik, his company that marketed itself as a mining and commodities business with interests in graphite, copper and rare-earth minerals across Sri Lanka, Tanzania and India, the California Post reported. Investors allege Carbonatik promised returns as high as 120 percent while backing those claims with fabricated financial statements, appraisals and letters of intent. Fitzpatrick and Carbonatik denied the allegations in […]This article originally appeared on The Real Deal. Click here to read the full story.
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