Gainesville Man Pleads Guilty in Florida Ponzi Scheme Case
David Lewalski, formerly of Gainesville, pleaded guilty in a federal court
to mail fraud connected to an alleged
Florida Ponzi scheme on 07/29/2011. According to the US Attorney's office,
Lewalski used his Botfly LLC company to bilk investors in Florida and nationwide out of $30 million.
Allegedly, Lewalski and others brought investors in with potential earnings of 10% monthly by trading on the foreign currency market. Only a small portion of the money was actually invested, however, and did not bring in much in the way of profits. Lewalski apparently used the money from new investors to pay prior investors, which accounted for about $15 million. Additionally, Lewalski is said to have used the cash for his own lavish lifestyle, including real estate, private jets, expensive cars, clothing, and jewelry.
At maximum, Lewalski faces a 20-year prison term for his involvement in this Florida investment scam.
If you have been the victim of a Florida Ponzi scheme, call theexperienced investment fraud lawyers with David. P. Meyer & Associates today. We have recovered millions of dollars in losses for our clients through stockbroker mediation, arbitration, and litigation.