Lake Geneva Man Sentenced Second Time for Ponzi Scheme

Todd Dyer, a Lake Geneva, Illinois man, who previously served time for a ponzi scheme, has been accused again of scamming individuals. An Illinois family claims that Dyer stole $1 million from them. The family was told that their insurance company had stolen their life insurance policy and Dyer promised to get them their money back in exchange for a fee. In 1999, he was convicted of running a $2.2 million ponzi scheme and spent 70 months in prison for it. He was then indicted for an alleged scheme beginning in March of 2008. Dyer told investors that their money would be used to purchase farm property or interests on farm property. In reality, that was not the case. In October 2012, he was accused of taking $250,000 from an individual who was interested in building a manufacturing facility and using the money for personal purposes.

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