Meyer Wilson

Recovering Losses Caused By Investment Misconduct

Federal Grand Jury Indicts Man in Alleged $3 Million Ponzi Scheme

Ronald W. Shepard, formerly of Lee's Summit, MO, has now been indicted by a federal grand jury for his part in an alleged $3 million Ponzi scheme. The 72-year-old man is accused of luring in investors while preparing their tax returns. He would allegedly push investments in his two companies - Safety Solutions, LLC and The Real Estate. Shepard had apparently already been barred from selling unregistered securities in Missouri at the time of the alleged investment scam.

Allegedly, Shepard informed clients that their money would go into lucrative real estate investments in choice locations, such as Hawaii, Lake of the Ozarks, and Kansas City, which would net returns of anywhere from 15% to 100% each year. Unfortunately for investors, the indictment alleges that Shepard instead used cash from investors to buy his own personal residence in Lake of Ozarks, invest in other real estate, and to finance his own personal lifestyle. Many clients chose to cash in retirement accounts and 401(k)s in order to put money into Shepard's promising pitches.

Shepard faces 15 counts in the alleged real estate investment fraud, and, if convicted, he could spend 20 years in prison for each count of mail fraud, 10 years on each count of money laundering, and would need to give up any ill-gotten property. He is already serving a sentence of 5 years for a previous tax fraud probation violation in Arkansas.

The securities fraud attorneys with Meyer Wilson help victims of stockbroker fraud and investment scams recover losses through mediation, arbitration, and litigation. We represent clients nationwide, and we look forward to putting our skill and experience to work for you and your family.

Categories: Securities Fraud

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