Ponzi scheme, bankruptcy collide in Sacramento courts

Vincent Thakur Singh, who is charged in Sacramento federal court with fraud, lying in court papers and bribery, allegedly fleeced members of the ethnic Indian Fijian community for $20 million and then declared bankruptcy. An indictment returned two weeks ago and unsealed Tuesday says Singh targeted 190 members of that community in what is known as an “affinity scheme” – that is, a rip-off focused on a particular ethnic, national, racial or religious group to which the perpetrator belongs. “Affinity schemes take advantage of bonds of trust and affection that can exist among members of the targeted group,” the indictment says.
Singh, who formerly lived in Elk Grove, was arrested late Monday in Caldwell, Idaho. The timing of his first court appearance in Sacramento will depend on how long it takes the U.S. Marshals Service to transport him. More in the Sacramento Bee here.