Allegedly, beginning in 2004 and continuing through at least August 2007, Sladich solicited hundreds of investors, most of them fellow members of her church, to invest money with her and her company, Kay Services, LLC. According to the Complaint, Sladich told these investors that she was partnering with a successful businesswoman who would be responsible for investing their money in real estate in the United States and abroad. Sladich promised investors that the investments were safe and secure and guaranteed 100 percent annual returns. The case alleges that there were no bona fide investments made and monies were spent for personal use. The Complaint is merely an accusation, and Sladich is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.Sladich used much of the money she received from new investors to meet Kay Servicesa#39; obligations to existing investors, in classic Ponzi scheme fashion. In some instances, Kay Services employees took cash from a new investor and usedanbsp;...
|Title||:||Marcia Sladich' Arrest In $10 Million Ponzi Scheme|
|Publisher||:||www.BackgroundNow.com - 2008-10-02|