Best Buy beats fake investment Ponzi scheme

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By Bill Wichert (March 21, 2022, 9:19 p.m. EDT) — Best Buy has overturned a lawsuit alleging its employees helped trick investors into funneling more than $2.6 million into shell companies involved in a scheme Ponzi scheme, with a New Jersey federal judge finding that the alleged victims failed to demonstrate that the retail giant approved of the alleged worker misconduct.

U.S. District Judge John Michael Vazquez on Friday dismissed the lawsuit against Best Buy Co. Inc. and a subsidiary of the plaintiffs who said they made investments based on false statements by employees during private tours of a mall Best Buy distribution company that he had contracted with companies run by…

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