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Austin investment fund a Ponzi scheme 'from the very beginning,' report alleges

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Austin investment fund a Ponzi scheme 'from the very beginning,' report alleges

CCG Capital Group’s real estate-focused Pride of Austin High Yield Fund I LLC was placed into a receivership in May 2024 after allegedly misrepresenting the total capital of one of its investment funds by tens of millions of dollars. Now, a forensic report prepared by the receiver alleges that the “Ponzi scheme started from the very beginning.”