The long arm of the law reached down yesterday and indic ted LYDIA CLADEK for a Ponzi scheme that defrauded investors of more than $100 million. The scheme promised 15% annual returns on selling cars to low-income consumers with 29% interest. The scheme -- too good to be true – attracted many locals to lose their life savings for retirement. Cladek is sitting in jail this Thanksgiving weekend until her federal court appearance next week. See below.
Our local State’s Attorney may not prosecute white collar crimes, but the Justice Department will.
Thanks to U.S. Attorney General Eric Holder, the FBI, and United States Attorney for doing their jobs without fear or favor.
We look forward to the Justice Department being more active here in St. Augustine and St. Johns County – including more public corruption and environmental cases. As President Jimmy Carter said, “I see no reason why big-shot crooks should go free and the poor ones go to jail.”
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