{"id":1529,"date":"2011-09-16T06:33:40","date_gmt":"2011-09-16T06:33:40","guid":{"rendered":"https:\/\/hedgeanswers.com\/?p=1529"},"modified":"2011-09-16T06:33:40","modified_gmt":"2011-09-16T06:33:40","slug":"amish-in-29-states-taken-by-maddoff-like-scam","status":"publish","type":"post","link":"https:\/\/aandcadvisors.com\/ar\/amish-in-29-states-taken-by-maddoff-like-scam\/","title":{"rendered":"Amish in 29 states taken by Maddoff-like scam"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.hedgeanswers.com\/images\/uploads\/\/amish-people.jpg\" alt=\"Amish in 29 states taken by Maddoff-like scam\" width=\"163\" height=\"148\" \/><\/p>\n<p>Meet the Amish Madoff:\u00a0 77-year-old man in Ohio accused of scamming thousands of investors in 29 states, mostly his fellow Amish, out of $16.8 million.<\/p>\n<p>Prosecutors say Monroe Beachy ran a Ponzi scheme for decades, telling investors he would invest in safe securities, but instead putting their money in riskier ones and sending them false account statements, <a href=\"http:\/\/abcnews.go.com\/Business\/monroe-beachy-amish-bernie-madoff-indicted-168-million\/story?id=14531047\" target=\"_blank\" rel=\"noopener noreferrer\">ABC<\/a> reports.<\/p>\n<p>Beachy, who declared bankruptcy earlier this year, faces up to 20 years in jail if convicted.<\/p>\n<p>The Amish Helping Fund, a nonprofit organization that helps young Amish families buy their first homes, is among the victims of the alleged scam. The case is &#8220;an example of what we call an affinity fraud scheme\u2014ones that play upon goodwill and previous relationships and, therefore, sometimes affect a particular community more than the general public,&#8221; a US attorney tells the <a href=\"http:\/\/www.cantonrep.com\/news\/x848577770\/Beachy-indicted-on-mail-fraud-charge\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Canton Repository<\/em><\/a>. &#8220;The Beachy case is one of these affinity scams that, unfortunately, reminds us that even in the heartland, if it sounds too good to be true, it is.&#8221;<\/p>\n<p><em><strong>via Newser<\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Meet the Amish Madoff:\u00a0 77-year-old man in Ohio accused of scamming thousands of investors in 29 states, mostly his fellow Amish, out of $16.8 million. Prosecutors say Monroe Beachy ran a Ponzi scheme for decades, telling investors he would invest in safe securities, but instead putting their money in riskier ones and sending them false [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-1529","post","type-post","status-publish","format-standard","hentry","category-good-life"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/posts\/1529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/comments?post=1529"}],"version-history":[{"count":0,"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/posts\/1529\/revisions"}],"wp:attachment":[{"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/media?parent=1529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/categories?post=1529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aandcadvisors.com\/ar\/wp-json\/wp\/v2\/tags?post=1529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}