Louisiana man indicted in million dollar Ponzi scheme

Department of Justice_-9045651259137506611

Monroe, La. (11/22/19)— U.S. Attorney David Joseph announced on November 21, that 39 year old Donnie Laing, of Youngsville, Louisiana, is charged by federal indictment on nine counts of wire fraud involving a million dollar Ponzi scheme.

According to the indictment, Laing was the sole owner of Capital Energy Investments, formed in February of 2017.

From April through November of 2018, Laing orchestrated a Ponzi scheme, in which he and a well known associate in northeast Louisiana, solicited money from multiple investors by falsely promising them high rates of return on their investments.

Laing claimed he would use the money to invest in oil and gas equipment, then lease it to other companies in the oil and gas exploration markets.

Laing then submitted false proposals and contracts to persuade his investors, using money from new investors to make payments to previous victims in order to avoid detection, all the while using the money for his own purposes.

Laing faces up to 20 years in federal prison for each count of the indictment, restitution to all the victims, and a fine of up to $250,000.

The FBI is investigating the case with U.S. Attorney David Joseph as the prosecutor.

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