Two Minnesota Businessmen Plead Guilty to Ponzi Scheme

Posted on December 22nd, 2014 at 10:54 AM
Two Minnesota Businessmen Plead Guilty to Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law Offices:

David McQueen and Trent Francke, pled guilty and were sentenced to prison for defrauding investors in a $46.5 million Ponzi scheme.

McQueen and Francke had backgrounds in insurance and real estate. They recruited insurance agents to help them bring in new investors.

McQueen convinced investors to take their life savings or mortgage their homes to invest in his Ponzi scheme and left many retirees in dire financial straits.

Most of the money was used by Francke and McQueen for personal expenses and to pay early investors who believed they were earning dividends.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services. 

Related Attorneys: James J. Eccleston

Tags: Ponzi scheme, Minnesota, David McQueen, Trent Francke, fraud

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