Richland Couple Arrested In Ponzi Scheme
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Richland Couple Arrested In Ponzi Scheme
A Richland couple is arrested for selling unregistered securities topping out at $2.65 million.The owners of a popular restaurant and a funeral home are under arrest in alleged ponzi scheme costing victims millions in investments.
District Attorney Julia Slater says Michael and Phillis Bleckley were arrested Wednesday. They live in Richland, Georgia. The couple owns the popular Bullock House restaurant in Warm Springs and the Smith Funeral home in Richland.
The District Attorney says there are six charges against the couple, seventeen counts in total.
Investigators searched the home all day Wednesday. Slater’s office says the couple posed as brokers in Columbus. They were operating under the name MKB Capital Management Incorporated.
The indictment charges the couple with conspiracy to commit theft, failure to register as broker dealers, seven counts of theft by taking, a raqueteernig charge, and seven more counts of selling unregistered securities, that charge tops out at $2.65 million.
There are seven victims listed on the indictment. We are hoping to learn more about the victimsThursday at a press conference the District Attorney is holding.
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