http://doctormed.org/2009/11/21/estrogens-have-important-uses-but-they-have-serious-risks-as-well/
David E. Ruskjer of Koloa was chargeed by a federal grand jury Wednesday for fraudulently raising the moneyh from approximately140 investors. Among the charges against Ruskjer aremail fraud, wire currency structuring and money laundering. The U.S. Attorney’s office alleges Ruskjer ran an investment and loan program out of Koloa called Ruskjer & Associates and Dave’s Investment/Loan Program, promising investorw returns of 3 percent to 5 percent per The alleged activities occurred between September 2004 and Decembert 2008. Ruskjer allegedly used half ofthe $16 million for trading through TD Ameritrad but lost more than $2.5 million.
The government said “theres was never sufficient mone to support the 3 to 5 percenr interest rates he guaranteedhis clients.” In classicv Ponzi scheme fashion, Ruskjer allegedly used money from new clients to pay earliere clients to convince them he was making money for When the government seized Ruskjer’s trading account and bank accounte last Dec. 11, he had a combined balancwe of $4.1 million. Ruskjer is accusedc of using much of the money on personal including $528,458 on a condominium on $29,000 on a Honda sedan and $10,000p on motorcycles.
If convicted, he faces up to 20 yeare in prison for each of the 17 mail and wirefraue charges, and up to 10 years in prison for each of the 30 othed charges. The case resulted from an Internal RevenuerService investigation.
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