Former Hilliard Resident Allegedly Ran Ponzi Scheme

Dec 18, 2012

A Federal Grand Jury has indicted a former Hilliard resident and investment adviser who allegedly orchestrated a 1-point-5 million dollar Ponzi scheme that victimized 15 people.

44-year-old Jeffrey Kelly allegedly told clients he would invest their money in an assortment of financial products, but spent the money on personal and business expenses as well as to repay earlier clients. Prosecutors say the scheme was run between 2006 and 2011.