Man Claims Insanity In $15.8M Ponzi Scheme Case

Law360, New York (January 25, 2011, 3:46 PM EST) -- A Georgia man accused of orchestrating a $15.8 million Ponzi scheme that targeted Christian investors is asserting an insanity defense and trying to dismiss the charges because of prosecutorial misconduct.

Eldon A. Gresham Jr., representing himself in the case, filed his handwritten insanity defense and motion to dismiss in U.S. District Court for the Northern District of Texas on Friday. He is accused of inducing at least 90 people to invest with him and falsely claiming that he consistently generated large returns by trading investor funds...
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