Five Indicted in Alleged $160 Million Ponzi Scheme in Arizona

Arizona Republic:  “A federal grand jury has unsealed a 40-count indictment against five men, including four in Arizona, over an alleged $160 million Ponzi scheme that promised sky-high investment returns and relied on word-of-mouth referrals, especially among the Valley’s Mormon community.   The indictment charges Guy Andrew Williams, 38, of Mesa; Brent F. Williams, 62, of Mesa; Douglas Edward Towler, 46, of Scottsdale; and Duane Hamblin Slade, 38, of Texas, with mail fraud, wire fraud, conspiracy to commit mail and wire fraud, and money laundering.  It charges Russell Laurence Sewell, 43, of Mesa, with conspiracy to commit mail and wire fraud.”