Grocery Wholesaler Indicted on Fraud Charges

NEWARK, N.J. — A federal grand jury here has indicted the former owner and chief executive of Capitol Investments Inc. for allegedly leading an $880 million Ponzi scheme related to a bogus grocery wholesaling business.

NEWARK, N.J. — A federal grand jury here has indicted the former owner and chief executive of Capitol Investments Inc. for allegedly leading an $880 million Ponzi scheme related to a bogus grocery wholesaling business.

As previously reported, Nevin K. Shapiro, founder and president of Capitol, told investors he ran a grocery diverting business that purchased low-priced groceries in one region and resold them in another where prices were higher, according to the charges. He prod

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