Feds allege $364 million Ponzi scheme paid for dozens of supercars

Federal prosecutors in Baltimore have issued a 14-count indictment against three men accused of using a Ponzi scheme to defraud investors of more than $364 million, saying that two of them diverted the money in part to amass a jaw-dropping portfolio of 28 mostly luxury automobiles, supercars and motorcycles, including Ferraris, Lamborghinis and Rolls-Royces — and one Ford Explorer.

The indictment, unsealed Tuesday but filed Sept. 11, identifies three defendants: Kevin B. Merrill, 53, of Towson, Md.; Jay B. Ledford, 54, of Westlake, Texas and Las Vegas; and Cameron R. Jezierski, 28, of Fort Worth, Texas. In addition to the cars and motorcycles, it accuses them of diverting and concealing $73 million of investors’ money intended for consumer debt portfolios to purchase and renovate high-end homes in several states, jewelry, boats, a life-insurance policy and a share in a jet plane.

Prosecutors are seeking

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