A South Florida woman was arrested Monday morning for operating what authorities described as a Ponzi scheme that took in over $2 million from investors. Ruth Rodriguez Liverpool, of Broward County, Florida, was accused of soliciting victims for the scheme at church services held in a rented hotel ballroom, where she promised annual returns of ten percent from the import and export of materials from the Caribbean. She is currently facing a charge of organized scheme to defraud.
Instead, according to Liverpool's bookkeeper, Liverpool never engaged in the import/export business, and investor funds were used to fund the operation. Authorities have identified 38 known victims of Liverpool's alleged scheme, one of whom invested $200,000.
A search of the Florida Department of State Division of Corporation yielded at least 20 different business entities with Liverpool as a registered agent or officer, including Apex Global Funding, Inc., Arcc Investments and Trust, Inc., RA Holdings International, LLC, and Rusco Investments LLC. Along with Ruth Liverpool, an Aldwyn Liverpool is also identified as an officer in most entities. Internet searches for several of Liverpool's companies yielded a large number of complaints from individuals who had apparently lost money investing with Liverpool. Interestingly, some of these reports are over a year old. Additionally, a detailed report by an investigative website also provides more information on the scheme.
Liverpool is currently being held on $1,000,000 bond.