Man Charged In Alleged $82M Christian Ponzi Scheme

The Idaho Statesman reports:

A Boise man who allegedly preyed on Christians, using biblical quotes to entice them to invest in Arizona real estate, is accused of operating a Ponzi scheme and scamming investors out of more than $82 million. Bradley R. Heinrichs, 41, was indicted in Arizona on four counts of fraudulent schemes and artifices, illegal control of an enterprise, theft and conspiracy, all felonies. He has pleaded not guilty.

Heinrichs told investors “that his company wanted to give an opportunity to ‘Christian families’ to invest, how God was using their company to support missions and that they wanted to pass the blessing along to the ‘little guy’ who normally wouldn’t have an opportunity like this”, according to a court filing from a group that formed to seek restitution for the victims from Heinrichs and Hatch.

Read the full article. The trial is scheduled for April and Heinrich faces up to 69 years on prison.

Bradley R. Heinrichs, an Idaho real-estate agent, quoted the Bible to Christian families as he promised them annual returns as high as 25 percent.

But it was all a scam. https://t.co/yffDkBysnb

— The Daily Beast (@thedailybeast) February 28, 2022