In 2023, Oncidium Capital, led by Evan Torok, was exposed as a massive Ponzi scheme. Initially marketed as a high-yield investment firm, Oncidium Capital promised impressive returns in sectors like real estate and tech startups. However, behind its polished exterior lay a fraudulent operation where returns were paid using funds from new investors rather than legitimate profits. Torok, who portrayed himself as a savvy investment professional, used aggressive sales tactics and elaborate marketing events to attract wealthy investors. The scheme ultimately defrauded over 500 individuals, resulting in losses nearing $200 million. Torok was arrested and charged with multiple offenses, but recovering the lost funds remains a challenge. This case highlights the critical importance of vigilance and thorough due diligence in investment opportunities.
