{"id":84153,"date":"2025-12-30T00:30:09","date_gmt":"2025-12-30T00:30:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/84153\/"},"modified":"2025-12-30T00:30:09","modified_gmt":"2025-12-30T00:30:09","slug":"investment-manager-extradited-in-alleged-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/84153\/","title":{"rendered":"Investment Manager Extradited in Alleged Ponzi Scheme"},"content":{"rendered":"<p>BROOKLYN \u2014 Federal prosecutors last week said Matthew Melton, 61, of Boulder, Colorado, has been extradited from the United Kingdom to face securities fraud and wire fraud charges tied to an alleged Ponzi scheme marketed as an \u201calgorithmic trading\u201d fund.<\/p>\n<p>According to the U.S. Attorney\u2019s Office for the Southern District of New York, Melton raised millions of dollars through his fund, Price Physics, by falsely claiming it used a proprietary algorithm to trade futures contracts and deliver guaranteed monthly returns of up to 12%. Prosecutors allege there was no such algorithm and that investor funds were instead used to pay earlier investors and bankroll Melton\u2019s personal expenses, including mortgage payments and sailing trips.<\/p>\n<p>Melton arrived in the United States on Dec. 19 and was presented the following day before a magistrate judge. He has been held at the Metropolitan Detention Center in Brooklyn pending further proceedings and was scheduled to make his initial appearance on Sunday. The case is assigned to U.S. District Judge Arun Subramanian.<\/p>\n<p>U.S. Attorney Jay Clayton said the scheme relied on \u201cone of the oldest scams around,\u201d while the FBI said the alleged fraud caused millions in losses. Melton faces up to 20 years in prison on each count.<\/p>\n<p style=\"text-align: center;\">\u2730\u2730\u2730<\/p>\n<p> <a style=\"font-size: inherit; background-color: #fefefe;\" href=\"https:\/\/brooklyneagle.com\/whats-news-breaking\/\" rel=\"nofollow noopener\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"wnb-read-more aligncenter\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/read-more-wnb-shad-1024x341.png\" alt=\"\" width=\"1024\" height=\"341\"\/><\/a><\/p>\n<p>\n<a href=\"https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSd5hEdpXLwpeWAPMPmcmdn--vHz1InXjphFdhedt_prXKoVFQ\/viewform\" target=\"_blank\" rel=\"nofollow noopener\"><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/ultima-reader-response.png\"\/><\/a><\/p>\n<p>\t<br \/>\n<a class=\"related-articles comment-link\" style=\"clear: both;padding-top:6px;color:#6cc4e8;\" href=\"#comments\" title=\"Leave a Comment\"\/><\/p>\n<p><\/p>\n<p>\t\t\t\t\t<a href=\"https:\/\/brooklyneagle.com\/337838\/9-11-memorial-events-in-brooklyn\/\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n\t\t\t\t\t\t<img loading=\"lazy\" width=\"250\" height=\"250\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/AP24254764142461-250x250.jpg\" class=\"alignleft wp-post-image\" alt=\"Flags are placed by the names of those killed during the Sept. 11, 2001, attacks at the reflecting pools at the National September 11 Memorial &amp; Museum, Tuesday, Sept. 10, 2024, in New York. One World Trade Center rises in the background. AP Photo\/Donald King\" decoding=\"async\"  \/><br \/>\n\t\t\t\t\t\t\t9\/11 memorial events in Brooklyn<\/p>\n<p>\n\t\t\t\t\t\t\t\tSeptember 11 |<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBrooklyn Eagle Staff\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t<\/a><\/p>\n<p>\t\t\t\t\t<a href=\"https:\/\/brooklyneagle.com\/337822\/americans-mark-the-24th-anniversary-of-the-9-11-attacks-with-emotional-ceremonies\/\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n\t\t\t\t\t\t<img loading=\"lazy\" width=\"250\" height=\"250\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/AP25254543237567-250x250.jpg\" class=\"alignleft wp-post-image\" alt=\"William Staudt, a firefighter that worked at Ground Zero on the day of the attacks, looks over a reflecting pool during a ceremony to mark the 24th anniversary of the 9\/11 attacks, Thursday, Sept. 11, 2025, in New York. AP Photo\/Seth Wenig\" decoding=\"async\"  \/><br \/>\n\t\t\t\t\t\t\tAmericans mark the 24th anniversary of the 9\/11 attacks with emotional ceremonies<\/p>\n<p>\n\t\t\t\t\t\t\t\tSeptember 11 |<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBrooklyn Eagle Staff\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t<\/a><\/p>\n<p>\t\t\t\t\t<a href=\"https:\/\/brooklyneagle.com\/337613\/volunteers-prep-millions-of-meals-for-fellow-new-yorkers-on-24th-anniversary-of-9-11\/\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n\t\t\t\t\t\t<img loading=\"lazy\" width=\"250\" height=\"250\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/AP25253626445845-250x250.jpg\" class=\"alignleft wp-post-image\" alt=\"Volunteers work during the &quot;NYC Meal Pack For 9\/11 Day&quot; at the Intrepid Museum, Wednesday, Sep. 10, 2025, in New York. AP Photo\/Yuki Iwamura\" decoding=\"async\"  \/><br \/>\n\t\t\t\t\t\t\tVolunteers prep millions of meals for fellow New Yorkers on 24th anniversary of 9\/11<\/p>\n<p>\n\t\t\t\t\t\t\t\tSeptember 10 |<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBrooklyn Eagle Staff\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t<\/a><\/p>\n<p>\t\t\t\t\t<a href=\"https:\/\/brooklyneagle.com\/337825\/ceremonies-hosted-throughout-brooklyn-to-remember-9-11\/\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n\t\t\t\t\t\t<img loading=\"lazy\" width=\"250\" height=\"250\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/12\/canarsie4-250x250.jpg\" class=\"alignleft wp-post-image\" alt=\"A 9\/11 tribute remembering victims and honoring survivors and first responders was held on Sept. 7. Photo by Arthur De Gaeta\" decoding=\"async\"  \/><br \/>\n\t\t\t\t\t\t\t\u2730PREMIUM <br \/>Canarsie Park holds 9\/11 vigil, other ceremonies hosted throughout Brooklyn<\/p>\n<p>\n\t\t\t\t\t\t\t\tSeptember 11 |<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBrooklyn Eagle Staff\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p>\t\t\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"BROOKLYN \u2014 Federal prosecutors last week said Matthew Melton, 61, of Boulder, Colorado, has been extradited from the&hellip;\n","protected":false},"author":2,"featured_media":55437,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[3302,128,14768,396,9,24,63,129,131,130],"class_list":["post-84153","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-breaking","tag-bronx","tag-courts-and-law","tag-fraud","tag-new-york","tag-new-york-city","tag-nyc","tag-the-bronx","tag-the-bronx-headlines","tag-the-bronx-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/84153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=84153"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/84153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/55437"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=84153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=84153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=84153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}