Riverside, California firm MX Factors and its two Inland Empire investment arms -- all three accused of running a multi-million-dollar Ponzi scheme -- on Monday were placed into receivership.
The receiver, tapped to take over the offices and records of MX Factors, BBH Resources of Palm Springs and JTL Financial Group of Corona, says it already has located up to US$11.25 million in assets, with more than US$20 million owed to investors.
Among the assets are homes, boats and offshore accounts, according to a receiver report that reveals new details about the three investment companies, how much money they took in and where some of it went.
