$40 Million Ponzi

MIAMI - JCS Enterprises, a South Florida-based Ponzi scheme, used (nonparty) YouTube to bilk investors $40 million in a so-called "virtual concierge machine" scam, the SEC says; click headline to see the defendants in Federal Court.

Here are the defendants: JCS Enterprises, Inc., a Delaware corporation based in Jupiter, Fla.; T.B.T.I. Inc., of Highland Beach and/or Boca Raton; JCS president Joseph Signore, 49, of West Palm Beach; and TBTI president Paul L. Schumack II, 56, of Pompano Bach.