Henry Abdo, a 47-year-old from Lebanon, has admitted guilt in a federal court for orchestrating a Ponzi scheme through his company, Titanium Capital LLC. The scheme defrauded investors of over $6 million by falsely promoting a foreign-exchange platform that promised fixed returns. Contrary to these claims, the company did not possess such a platform. Instead, Abdo used funds from new investors to pay earlier ones and support his personal expenses.
Since July 2014, Abdo misled investors by presenting Titanium as a "zero-risk" investment fund profiting from foreign currency transaction fees. He further claimed that Titanium was part of a multibillion-dollar holding company with proprietary software and SEC registration. To enhance his credibility, he falsely associated himself with charitable and educational organizations.
Abdo solicited investments through various means including meetings, emails, video conferences, and phone calls. He directed potential investors to deceptive websites and promotional materials portraying Titanium as legitimate. However, the operation was a classic Ponzi scheme diverting significant sums for Abdo's personal use.
The fraudulent activities affected over 200 investors, leaving many financially devastated. Victims reported losing retirement accounts and personal savings crucial for basic living expenses.
On January 13, 2025, during a hearing before U.S. District Court Judge William P. Dimitrouleas, Abdo pled guilty to wire fraud under Title 18 of the United States Code Section 1343. He faces up to 20 years in prison with sentencing considerations based on U.S. Sentencing Guidelines and other statutory factors.
The announcement was made by U.S. Attorney Markenzy Lapointe for the Southern District of Florida and Special Agent in Charge Jeffrey B. Veltri of the FBI's Miami Field Office.
The case was investigated by FBI Miami’s Palm Beach Resident Agency with prosecution led by Assistant U.S. Attorneys Jonathan Bailyn and Justin Chapman.
Further information can be accessed on the District Court for the Southern District of Florida's website or through their case number 23-cr-80209 on PACER.