Accounting Firm Estimates $12M Bill for Greg Martel Bankruptcy

Following the collapse of Greg Martel’s Ponzi scheme, which defrauded over 1,700 investors for $301 million, newly released documents reveal that PricewaterhouseCoopers (PwC) anticipates billing over $12 million for managing Martel’s bankruptcy and recovering funds. Only $892,490 has been collected so far, with another $6 million in outstanding invoices. Martel remains at large, and a clawback plan for profits from “winner” investors has been approved to aid “loser” investors. PwC estimates potential recoveries, including $3 million from the Canada Revenue Agency, as the investigation continues.