Virginia News: NORFOLK, Investment Advisor, Edward Lee Moody Pleads Guilty to $6.1 Million Ponzi Scheme

16Oct - by Editor - 0 - In STL.News



NORFOLK, Va. – A Chesterfield man who owned and operated an investment firm in Virginia Beach pleaded guilty today to mail fraud and engaging in monetary transactions in criminally derived property.

According to court documents, Edward Lee Moody, Jr., 47, was a registered investment adviser and the sole owner and operator of CM Capital Management LLC, an investment firm with its principal office located in Virginia Beach. Moody solicited investors on the basis of his representation that he would profitably invest their assets in securities on their behalf and manage those investments on an ongoing basis.

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