UPDATED 7:51 EDT U.S.A. Let’s start by giving you the roster of federal agencies involved in the investigations and prosecutions of William M. Apostelos, 54, and Connie M. Apostelos, 50, his wife:
(1.) The Office of U.S. Attorney Carter M. Stewart of the Southern District of Ohio. (2.) Internal Revenue Service Criminal Investigation. (3.) The FBI. (4.) The U.S. Postal Inspection Service. (5.) U.S. Department of Labor Office of Inspector General. (6.) U.S. Department of Labor Employee Benefits Security Administration.
In addition to the six federal agencies, the Ohio Department of Commerce Division of Securities joined in the probe that uncovered an alleged $70 million Ponzi scheme.
So, how does Ponzi-forum legend “Ken Russo” fit into all of this? Here we’ll turn to a Nov. 1, 2014, story at BehindMLM.com. The story quotes “Ken Russo” on yet-another scam he is pushing. (Italics added.)
I am very firm in my belief that this is the real deal and I get no sense whatsoever that any kind of scam is intended here. It is very seldom that we can find an opportunity as transparent and viable as the Genesis Acquisitions International, LLC. investment club.
It turned out that William Apostelos was linked to Genesis Acquisitions and a sorry cast of other companies, including WMA Enterprises LLC, Midwest Green Resources LLC and Roan Capital.
Connie Apostelos, also known as Connie Coleman, also operated and oversaw multiple companies in the Dayton area, including Coleman Capital Inc. and Silver Bridle Racing LLC, prosecutors said.
“These companies were allegedly operated through improper use of investor funds to William Apostelos’ companies,” Stewart’s office said.
From the statement (italics added):
William and Connie Apostelos are charged with one count of conspiracy to commit mail and wire fraud, eight counts of mail fraud and 13 counts of wire fraud, each crimes punishable by up to 20 years in prison. They were also charged with two counts of money laundering, which each carry a potential 10-year prison sentence. They were also charged with one count of theft or embezzlement from employee benefit plan, which carries a maximum penalty of up to five years imprisonment. Finally, Connie Apostelos is charged separately with one count of making a false statement, which carries a maximum penalty of up to five years imprisonment.
See the PP Blog’s archive of story references to “Ken Russo,” perhaps the most prolific Ponzi pitchman on the planet.
Visit a recent “Ken Russo”-related thread at the RealScam.com antiscam forum for a “program” known as “MyBinaryProfits.”