Jerome “Joe” Bonnett Jr.—Ponzi Scheme

Cleveland stockbroker fraud lawyerJerome “Joe” Bonnett Jr. Allegedly Ran a Meticulous $1.35 Million Ponzi Scheme Involving a Few of His 83 Clients

Jerome “Joe” Bonnett Jr., of Omaha, Nebraska, allegedly operated a $1.35 million Ponzi Scheme involving a few of his 83 clients, according to reports from Douglas County.

Said reports also made note that Bonnett Jr. also, in a rare turn of events, apparently left   copious notes detailing how much cash he allegedly siphoned and the purported profits his customers could have made.

Bonnett Jr. allegedly stole from widows and lied to clients, Douglas County officials reported.

Jerome “Joe” Bonnett Jr.’s Suicide Allegedly Will Spur Life-insurance Payments to Purported Victims

In a rather bizarre turn of events Omaha financial advisor Jerome “Joe” Bonnett Jr. allegedly set up life insurance policies which will repay his alleged fraud victims, according to reports from Douglas County.

Bonnett Jr.’s life insurance policies will pay out a combined $7 million, over $5 million more than the $1.3 million lost by actions related to Bonnett’s violations of Nebraska securities laws, Douglas County officials report.

Rita Smedra, one alleged victim, is set to take in $682,000 from Bonnett Jr.’s life insurance, almost twice as she and her husband had invested, according to reports from Douglas County.

The Peiffer Rosca Wolf Securities Lawyers Often Assist Investors

The Peiffer Rosca Wolf securities lawyers assist investors who lose money as a result of alleged Ponzi schemes. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Ponzi schemes are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1144 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.