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Localized Ponzi Schemes

News reports of regional Ponzi schemes.

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  • Keith Franklin Simmons
    Keith Franklin Simmons is accused of defrauding 240 investors of $35 million from April 2007 to September 2009. He was arrested on Dec. 18, 2009 and indicted on the charges of money laundering and securities fraud violations on Jan. 20, 2010
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    Last post by AmandaMod View the latest post
    Mon Dec 20, 2010 2:48 am
  • Gerard Frank Cellette
    Gerard Frank Cellette, a 46-year-old Andover man was sentenced to eight years in prison for defrauding investors out of $53 million. Cellette’s company was Minnesota Print Services, Inc.
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    Last post by AmandaMod View the latest post
    Mon Dec 20, 2010 2:52 am
  • Ruben Gonzalez
    Ruben Gonzalez was found guilty of luring 107 victims into an investment scheme, stealing nearly $4 million, with false promises for annual interest rates through his business New Golden Investments Group (NGI Group) in West Covina.
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    Last post by PonziMod View the latest post
    Wed Dec 15, 2010 7:38 pm
  • Vaughn Reeves
    Vaughn Reeves, 66, a former pastor in southern Indiana, is sentenced to 2-8 years in prison for pocketing $120 million from 11,000 investors. He and his three sons claimed the money went into renovating 150 churches.
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  • Salih Acarbulut
    Salih Acarbulut of Chattanooga Tennessee, accused of cheating 100 people out of over $12 million between 2005 and 2008 has fled the United States after a 19 count indictment for wire fraud and money laundering.
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  • David Lewalski
    David Lewalski, 46, of Gainesville, and Jon Hammill, 38, of St. Petersburg took $23.7 million from 550 investors from 2008 to 2010 promising clients a monthly return rate from buying and selling currency through Botfly LLC of Bayonet Point in Pasco County.
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    Last post by Theft_Loss_Expert View the latest post
    Tue Jan 18, 2011 11:29 am
  • Richard A. Pizzuti
    Richard A. Pizzuti, a former stockbroker conducted a scheme involving half a dozen of his former clients with Merrimac Corporate Securities Inc. Over $2 million was taken from victims by supposedly selling insurance.
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  • William Huber
    William Huber ran a $40 Million Ponzi scheme through his Illinois based investment firm Hubadex Inc. which lied about the size of its client's returns and sent out false statements.
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