Trenton Man Behind $1.9 Million Scam Targeting Elderly
The man behind a Ponzi scheme that reportedly cheated senior citizens out of close to $1.9 million plead guilty this month. Lavern Huelsmann, 44, a licensed insurance agent, had convinced elderly people to invest in a "cash management account" under the company he ran, Senior Retirement Services. He then turned around and used those investments to build and decorate his Trenton home, gamble and make extravagant jewelry purchases.
Huelsmann will face sentencing on July 10 and is currently facing up to 30 years in prison, a fine of up to $500,000, and three years of supervised release and mandatory restitution according to the St. Louis Post-Dispatch.
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