Washington — The FBI executed a search warrant at the office of an Ohio-based community grassroots group known for its voter registration work as part of an ongoing fraud-related investigation, multiple sources familiar with the matter told CBS News.
The target of the search, the Ohio Organizing Collaborative, is a civil rights organization that works to register voters and advocates for criminal and economic justice reform.
Around the same time the search warrant was executed on Thursday, federal agents also started showing up at the homes of employees and volunteers to interview them as part of the probe, said Prentiss Haney, a board member of the Ohio Organizing Collaborative who was authorized to discuss the matter for the group.
The search, and the attempts to interview people affiliated with the group, were reported earlier by MS Now.
Haney said that the questions from the agents…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.