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Louisiana man federally indicted for million-dollar Ponzi scheme

Ponzi scheme | November 21, 2019

The U.S. Attorney’s Office for the Western District of Lousiana charged Capital Energy Investment’s owner, Donnie Laing, with nine counts of wire fraud. These charges stem from his involvement in a million-dollar Ponzi scheme, which was orchestrated through his limited liability company. In a press release, the Department of Justice said that “From April 16, 2018 through November 1, 2018, Laing orchestrated a Ponzi scheme whereby he and a well-known associate in northeast Louisiana, solicited money from multiple investors by falsely promising them high rates of return when they invested with his company.”

KTVE – KARD reports:

MONROE, La. (KLFY) — A Youngsville man was indicted in federal court today on charges of wire fraud from a million-dollar Ponzi scheme. […]

Throughout the scheme, [Donnie] Laing submitted false proposals and contracts to the Ponzi investors to persuade them to invest. He also used funds from new investors to make “lulling” payments to his victims to solicit additional monies and to avoid detection. Contrary to his representations, Laing used investor funds for his own purposes.

Laing, if convicted, faces up to 20 years in prison for each count of the indictment, restitution to the victims, and a fine up to $250,000.

The FBI is investigating the case. An indictment is merely an accusation and a defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

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