William M. Apostelos and Connie M. Apostelos—Ponzi Scheme

ponzi scheme attorneysWilliam M. Apostelos and Connie M. Apostelos Allegedly Orchestrated a $70 Million Ponzi

William M. Apostelos, 54, and Connie M. Apostelos, 50, both formerly of Springboro, Ohio, allegedly fraudulently persuaded hundreds of individuals from all over the U.S. to invest $70 million collectively, according to documents from the U.S. Attorney’s Office in the Southern District of Ohio.

William M. Apostelos and Connie M. Apostelos, beginning in 2009, and continuing for at least five years, allegedly operated a Ponzi scheme in the Dayton area in which nearly 480 investors allegedly lost more than $30 million collectively, according to said documents.

William M. Apostelos and Connie M. Apostelos Allegedly Recruited Investors from 37 States to Invest in WMA and Midwest Green

William Apostelos allegedly operated and managed multiple purported investment and asset management companies in the Dayton area, including WMA Enterprises, LLC, Midwest Green Resources, LLC and Roan Capital, according to documents from the U.S. Attorney’s Office in the Southern District of Ohio.

William M. Apostelos and Connie M. Apostelos allegedly recruited investors from 37 states to invest in WMA and Midwest Green, purportedly telling investors that their money would be used for acquiring stocks or securities, purchasing real estate or land, providing loans to business and buying gold and silver, the U.S. Attorney’s Office reports.

As a result of the aforementioned behavior, a number of investors have initiated legal action against the couple, and William and Connie Apostelos are charged with one alleged count of conspiracy to commit mail and wire fraud, eight counts of mail fraud and 13 counts of wire fraud, crimes punishable by up to 20 years in prison.

The Peiffer Rosca Wolf Investor Rights Lawyers Aid and Support Investors

The Peiffer Rosca Wolf investor rights lawyers often represent 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 alleged Ponzi schemes may contact the investor rights 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 (1252 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.