Ponzi scheme victim speaks out after losing investment
By Jennifer Mayerle
MINNEAPOLIS (WCCO) — Victims of an alleged multimillion dollar Ponzi scheme run by a Shakopee couple are speaking out about being duped.
Tracy Andrews and several of her family and friends invested with Jason Bullard and his wife Angela, and are still coming to terms with what’s happened. Andrews is one of roughly 200 people who invested nearly $18 million with the Bullards since 2007.
“He’s from our hometown area, this panhandle of Oklahoma, in a little town, area called Shaddick, Oklahoma. Everybody knows everybody,” she said.
Her family signed on with the Bullards, being told their money would be invested in foreign currency. Andrews says they received monthly profit statements.
A civil complaint filed by the SEC revealed some of the investor funds went quote “to pay other investors in Ponzi-style payments,” also going to fund…