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DOJ: Mass. Money Manager Pleads Guilty In $8.9 Million Ponzi Scam

easyBourse 6/24/09 DOJ: Mass. Money Manager Pleads Guilty In $8.9 Million Ponzi Scam. A Massachusetts money manager pleaded guilty to a fraud charge Wednesday in an alleged $8.9 million Ponzi scheme, prosecutors said. In a statement, the U.S. Attorney’s office in Brooklyn said Michael C. Regan, formerly of Wayland (and not to confused with another Michael Regan who continues to reside here), and the president and sole employee of Regan & Co., pleaded guilty to a single count of securities fraud at a hearing before U.S. Magistrate Judge Lois Bloom in Brooklyn.