Kirksville man admits Ponzi scheme - St. Louis Business Journal:

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Through his investment brokerage business, , and anothert company, , Neal Jackson, 61, defrauded a series of investore through aPonzi scheme, where returna to investors were paid through monies paid by later Acting U.S. Attorney Michael Reap said The scheme began aftedr Jackson realized in 1990 that Gestalft Group was not going to be aviablw entity, prosecutors said. He created Gestalt Group afteer he became involved ina multi-levep marketing program for water and air filtration systems. Jackson spent investor money onpersonal expenses, to pay previoue investors and to make unauthorized trades in stockz and options, prosecutors said. Through the scam, Jackson receivedc about $1.
4 million from 26 individual investorx and defrauded these investors out of prosecutors said. Jackson pleaded guilth to one felony count of mail fraufd and now faces up to 20 yearz in prison and fines upto $250,000 when he is sentencerd Sept. 18.