COLORADO (WEEK) — A Central Illinois woman has been indicted by a federal grand jury in Colorado, accusing her and another of running a Ponzi scheme that raised about $650 million from investors across the country.

According to court documents, Reva Joyce Stachniw, 69, of Galesburg, and Ron Throgmartin, 57, of Buford, Georgia, were charged with running a Ponzi scheme, along with a third co-conspirator, Mark Ray, from late 2017 until early 2019, according to a news release by the U.S. Department of Justice.

Ray was previously charged by criminal information for his role in the Ponzi scheme in the Central District of Illinois in February 2020.

According to the indictment, Stachniw, Throgmartin, and other co-conspirators solicited hundreds of millions of dollars from victim-investors throughout the United States.

Most often, the conspirators fraudulently represented to victim-investors that their investments were backed by…

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