Alleged Ponzi Schemer Arrested on MauiNovember 3, 2011, 3:25 PM HST · Updated November 4, 9:15 AM 0 Comments
By Wendy Osher
A Maui woman pleaded not guilty today to criminal charges relating to her alleged operation of a Ponzi Scheme.
Jedidah “Jed” Duarosan, 37, was arrested at her home in Kula, Maui this morning by FBI Special Agents and Maui Police.
Duarosan was indicted yesterday by a Federal Grand Jury in Honolulu for allegedly operating an investment fraud scheme targeting Maui residents.
According to court documents, Duarosan also known as Jedidah Abara, is accused of working with an associate to secure money from investors.
The indictment alleges that some of the money provided by investors was kept by the Defendant for her own use, without the knowledge or consent of the investors, including various personal debt payments totaling approximately $106,000.
Duarosan appeared in Federal court this afternoon and was released on bond after entering her plea. A trial has been set for January 3, 2012.
The statutory maximum penalty for the charged crime is 10 years, if convicted.
The indictment and arrest are not evidence of guilt. All defendants in a criminal case are presumed innocent unless and until proven guilty in a court of law.