Wilmington man accused of running decade-long Ponzi scheme

A Wilmington man is accused of running a decade-long “Ponzi scheme” that resulted in the loss of at least $2 million in investments, according to a complaint filed by the Securities and Exchange Commission. 

The complaint, which was filed earlier this week, claims that from December 2012 to February 2022, 55-year-old Shawn Edward Good, of Wilmington, solicited funds from clients to his personal bank account for “low-risk investments,” which he then used for personal expenses. 

The SEC claims Good “defrauded his clients” of at least $4.8 million — some of which he used to repay his earlier investors, and toward four cars, $800,000 in credit-card bills, international travel and Venmo transfers. 

The regulator’s complaint details how Good used salacious subject lines in his e-mails to clients including “because youre sexy” and “Hotel for Destiny.” He also claimed his investments were low-risk and would offer returns ranging from 6% to 10% over three to six months periods.

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