82°
Baton Rouge, Louisiana
3 Day Outlook
Thu
87°
66°
20%
Fri
86°
56°
20%
Sat
75°
50°
40%

Latest Weather Blog

Follow our weather team on social media

Ponchatoula man accused in $11 million Ponzi scheme

5 years ago Thursday, November 19, 2009 8:43:11 AM CST November 19, 2009 Thursday, November 19 2009 Nov 19, 2009 in News
Source: WBRZ

A man from Ponchatoula was arrested Thursday accused of bilking at least 200 investors out of $11 million.

William Chaucer, Jr. faces 20 counts each of felony theft, operating as an unregistered investment advisor and other charges.

The Louisiana Attorney General's Office says Chaucer told people he would invest their money in one of his loan companies, but in reality, he used it to pay for an extravagant lifestyle.

Chaucer is the principal of Chaucer Holding Company, Chaucer Financial Services, American Credit of Hammond, American Credit of Covington, and City Credit of Ponchatoula.

The attorney general says Chaucer spent $400,000 on Mardi Gras krewe memberships and expenses, $5,500 in plastic surgery and $11,800 in cosmetic dental work for his wife, Cheryl Chaucer.

William Chaucer, Jr. is also accused of spending $5,550 for tickets to and ads for the Senior America, Inc. pageant contest in which his wife was a participant, and thousands more on jewelry and outfits associated with her beauty pageant events.

He is being held in the Tangipahoa Parish Prison.  Bond has not been set.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
82°
66°
Thu
87°
66°
Fri
86°
56°
Sat
75°
50°
Sun
78°
64°