NY Woman Conned Investors In Hedge Fund Scam, Feds Say

By Elliot Weld (September 8, 2022, 5:28 PM EDT) — A New York City woman was accused by federal prosecutors Thursday of lying to investors to obtain hundreds of thousands of dollars of their money and use it for personal expenses including luxury goods and a Manhattan apartment.

Lakenya Hopkins was indicted on charges of securities and wire fraud. Prosecutors say she induced investments in her company Money Magnet Platinum Membership Initiative by promising “unrealistically high rates of return.”

Hopkins allegedly formed Money Magnet in August 2020, marketing it toward people of color as a way to build wealth for future generations of their families. She contacted investors via an encrypted…

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