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Feds charge two men in water vending machine Ponzi scheme

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Two New York men have been charged by the federal government with allegedly running a $200 million water vending machine Ponzi scheme.

Ryan Wear and investment adviser Jordan Chirico are accused for their alleged roles in swindling investors of Water Station Management of over $200 million.

The Department of Justice announced an indictment of the two men, and the Securities and Exchange Commission is alleging civil charges.

Read more from CNBC.

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