Art Nadel, the recent owner of Huffman Aviation accused of running a Ponzi scheme which allegedly stole almost $400 million from investors, is the only person so far charged with a crime.
However if authorities persist in claiming that claim Nadel was a "lone-nut financial gunslinger" they will be ignoring the richly-documented history of criminal fraud involving the owners of Huffman Aviation that goes back for more than a decade.
At least four financial scams, each looting more than $100 million, have criminal roots in the fertile soil— the “Octo-Mom” fertile soil—of the Venice Municipal Airport.
Almost immediately after its purchase in the summer of 1999 by Wallace J. Hilliard and Rudi Dekkers, the aviation facility became the center of a series of financial scams that included Ponzi schemes, pension fraud, international stock swindles, and fraudulent bankruptcies which have altogether looted more than $1 billion from the American economy.
Huffman Aviation, the flight training facility which housed both of the terrorist pilots who crashed passenger jets into the Twin Towers of the World Trade Center, has been operating as a continuing criminal enterprise, as defined by the Federal RICO (Racketeer Influenced and Corrupt Organization) Act.
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