PHILADELPHIA (KYW Newsradio) — Pennsylvania Attorney General Dave Sunday announced charges against a Montgomery County man accused of operating a Ponzi scheme that cheated investors out of more than $3.8 million.
Richard L. McNeil, 59, of Norristown, was charged with felony theft by deception, dealing in proceeds of unlawful activity, violations of the Pennsylvania Securities Act and other related offenses.
According to officials, McNeil solicited funds from investors by claiming he would invest their money in various investment opportunities that would generate steady returns. Investors were promised monthly interest payments and the return of their full investment…