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Four people charged in Ponzi scheme

Boca Raton, FL –Boca Raton Police detectives began investigating Midwest Holding Capital in April, 2009, when a number of victims came forward and claimed the company took their money with the promise of a 35% to 200% return on their investments.  However, Midwest has not paid any of the victims.  Four key people involved in a Ponzi scheme have been charged for their roles in this fraud, and three are in jail. 

Midwest Holding Capital, located at 1200 North Federal Highway, generally targeted people from the Haitian-American communities in the tri-county area.  Boca Raton Detective Robert Flechaus learned that an investigator with the State of Florida, Office of Financial Regulations, Bureau of Financial Investigations, was also investigating possible fraudulent activity by Midwest Holding Capital.  The extensive investigation revealed 44 victims who had been defrauded out of almost $600,000.

On Thursday, March 4, 2010, Patricia Mohammed and Hila Zlochover were arrested.  Friday morning, March 5. 2010, James Clark Howard was also arrested.  There is an outstanding warrant for the arrest of Lamothe Mildort, but he has not yet been taken into custody.  All four subjects are charged with grand theft and organized scheme to defraud, for their roles in the scam.

Arrested/Charged:

mohammed zlochover howard

 

No Picture Available

Patricia Mohammed

Owner:  R & F Financial Capital

Hila Zlochover

Employee:  Midwest Holding Capital

James Clark Howard

Owner:  JPS Financial Group, Sutton Capital, James Howard Group

Lamothe Mildort

Owner/CEO:  Midwest Holding Capital