Ex-Con Cops To Ponzi Scheme Targeting Fellow Inmates

Law360, New York (April 26, 2011, 6:28 PM EDT) -- Alleged Ponzi schemer Perry Jay Griggs pled guilty in Hawaii on Monday to charges that he and his wife bilked his fellow prisoners and their families out of $2 million by convincing them to invest through their company, Aloha Trading Co. Inc.

Griggs admitted to counts of wire and mail fraud and agreed to disgorge $1.9 million in ill-gotten gains, according to a federal court order accepting his guilty plea. Scheduled to be sentenced July 18, Griggs faces up to 20 years in prison and a...
To view the full article, register now.




Case Information

Case Title

USA v. Griggs et al

Case Number




Nature of Suit

Date Filed

October 28, 2010

Government Agencies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.