Tangipahoa Parish man charged in scheme: A Louisiana businessman has pleaded not guilty to defrauding investors out of nearly $20 million in an alleged Ponzi scheme. A spokeswoman for U.S. Attorney Jim Letten says 26-year-old Matthew Pizzolato of Tickfaw was arraigned Monday and ordered held without bond by a federal magistrate. Pizzolato was arrested Nov. 20 after a grand jury indicted him on charges that include securities fraud, money laundering and obstruction of justice. Prosecutors said he defrauded about 160 investors—mostly elderly people—out of roughly $19.5 million, and used some of the money to pay for cars, cruises, sports tickets and a house.
Next stop, 4.5%? The national average for a 30-year fixed-rate mortgage fell once again last week. The average rate quoted nationally was 4.62% for the week ending Sunday, according to the Zillow Mortgage Rate Monitor. That’s down from 4.69% for the week ending Nov. 22. The rates for a 15-year mortgage came in at 4.19%, compared with 4.23% for the week ending Nov. 22. Zillow says rates continued to fall on Monday.
