$4 Million International Pyramid Scheme Lands individual in Jail - Government Warns Against Investing in Non-Traditional Investment Opportunities that Guarantee Profits
A federal jury in Eugene, Oregon has found Richard J. Dompier of North Carolina guilty of 29 charges involving mail fraud, money laundering and tax fraud. The pyramid scheme involved the selling of nearly 76,000 silver bars to more than 5,000 investor, promising them fabulous returns on their money. Dompier’s business, New Millennium Group (NMG) was headquartered in Roseburg, Oregon. The scheme was successful; victimizing individuals from the United States, England, Canada, Africa and Australia. Dompier’s scheme in England and other parts of Europe alone generated $1.5 million for him. Small commission checks were mailed to early investors which helped generate additional victims. Subsequent investors did not receive the commissions they were promised which prompted complaints to the Attorney Generals Offices. A federal grand jury in Oregon charged Dompier with failure to file corporate income tax returns, mail fraud, illegally transferring funds taken by fraud interstate, and money laundering. Sentencing is scheduled for June 2007. For the entire article click here.
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