Friday, March 6, 2009

Another Ponzi Scheme Alleged - This One In New Hampshire

Colin Lindsey, 41 and the owner of Noble Trust Company in Manchester, New Hampshire, has been charged with operating a Ponzi-type investment fraud scheme that bilked some 300 investors out of at least $15 million. New Hampshire state banking authorities allege that Lindsey took money from new investors to pay back old investors whose money he had lost, then falsified records. A co-conspirator, Lisa Elliot, 45, of Epsom, New Hampshire and the former COO of Noble Trust, was charged with knowing about the scheme and not reporting it.

Read the story here, here and here.

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