Fort Lauderdale Men Arrested In $6 Million Aircraft Parts Ponzi Scheme


  Bookmark and Share

Fort Lauderdale Men Arrested In $6 Million Aircraft Parts Ponzi Scheme

By Jim Douglas
December 17, 2011 - On Wednesday Victor Brown, 54, of Hollywood, Florida and Roger Green, 78, of Stuart, Florida  were taken into custody on charges of racketeering and conspiracy to commit first-degree racketeering. It is alleged that both men set up a scheme where they would bring in investors, tell them they were selling C-130 aircraft parts worldwide (Lockheed C-130 Hercules is a four-engine turboprop military transport aircraft) and the investor could make 18 percent on their investment.

It's alleged that both men did not sell any C-130 aircraft parts. Both men paid themselves $1,748,00 in salaries, although the contract with the investors prohibited from using the money in salaries. 

On Thursday Brown posted $150,000 bond for his release from Broward's Main Jail. As of Friday Green was unable to post bond and remains in jail on the same bond amount as Brown. Both men were arrested for defrauding more than a dozen investors out of more than $6 million in a Ponzi scheme
Other News Stories (For the latest news please checkout our home page)


blog comments powered by Disqus  
Home Aviation News Aviation Stories Of Interest FAA Exam Upcoming Events Links To Other Sites General Aviation Helicopters Medical Factors Facing Pilots
Maintenance and Aircraft Mechanics Hot Air Balloon Aviation Training Handbooks Read Online Aviation History Legal Issues In Aviation Sea Planes Editorials
 ?AvStop Online Magazine                                                                 Contact Us                                                  Return To News                                          Bookmark and Share


AvStop Aviation News and Resource Online Magazine

Grab this Headline Animator