By LEAH WILLINGHAM | Associated Press/Report for America
JACKSON — Two men were indicted this week by a federal grand jury in Mississippi, accused of taking part in an $85 million Ponzi scheme involving a fictitious lumber company, a prosecutor says.
Ted Brent Alexander, 55, and Jon Darrell Seawright, 49, both of Jackson, are each charged with one count of conspiracy to commit securities fraud and wire fraud, one count of securities fraud and four counts of wire fraud involving a scheme to defraud investors, according to Darren J. LaMarca, Acting U.S. Attorney for the Southern District of Mississippi.
Alexander, a prominent lobbyist, and Seawright, a lawyer, are accused of promising “guaranteed” returns to investors in a sophisticated scam involving nonexistent timber deals, according to the statement released Thursday.
A lawyer for Seawright did not respond to a request for comment Friday from The…