Vending

Man facing charges of Ponzi vending machine scam

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December 29, 2025

Jordan Chirico, 41, has been charged with allegedly running a more than $200 million Ponzi scheme involving water vending machines. He is facing criminal charges and civil litigation, according to a report by Fox 59.

Chirico allegedly convinced a hedge fund he directed, called 352 Fund, to buy $100 million in bonds from a company called Water Station Management. The Indiana Public Retirement System also invested in the company.

This company collapsed and investigators said the company sold "water vending machines, that in many cases, did not exist."