Maui News

Griggs Sentencing Today in Ponzi Scheme Case

July 18, 2011, 8:51 AM HST
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By Wendy Osher

PERRY JAY GRIGGS is 49 years old, 5’10” tall, 180 pounds, with grey hair and blue eyes. He is known to have expensive tastes in sports cars, high-end clothing, cigars and golf. Photo courtesy FBI.

Sentencing is scheduled today for a man accused of operating a Ponzi scheme from federal prison. Perry Griggs is accused of working with co-conspirators to operate the scheme in which 17 victims invested more than $4 million. The sentencing will take place in the courtroom of Judge David Ezra in Honolulu today.

After Perry’s release from federal prison, he his wife Rachelle disappeared. A fugitive manhunt was launched, and the couple was captured in Arizona in December of 2010.  They and their Hawaii-based co-conspirator, Kapua Keolanui, pleaded guilty and are awaiting sentencing.

This case was particularly unusual because Perry is accused of operating the scheme from inside the prison walls while he was serving a federal prison sentence for operating a prior Ponzi scheme.

Perry’s co-conspirators will be sentenced later this summer in separate hearings.



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