Colorado Double Ponzi
Posted: Thu Jul 19, 2012 7:47 am
Gregory Russell, who had already been charged in a $9.7M real estate ponzi scheme in Colorado, decided to try for a Hutzpah award, with clusters, by running a second scheme while awaiting trial selling short term interests in a silver mining scheme called "Vital Elements". For added points, one of his first victims in his latest effort was a relative he talked in to "investing" $73,000. He is now in jail, not being able to meet the $1M bond set by the judge, waiting trial on the original charges, and will also be charged in the second matter as well. Denver Post article