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Genesis Fund investigation leads to eight arrests

Five people in California and three others in Costa Rica were arrested in May for allegedly swindling hundreds of investors out of tens of millions of dollars from 1994 to 2002 in an offshore investment scam.The arrests followed an 83-count indictment - unsealed on May 13, 2005 - at the U. S. District Court for the Central District of California concerning an unlicensed investment fund known as the Genesis Fund.