Canton Woman Busted In $1M Ponzi Scheme
CANTON (WWJ) - A Canton woman is behind bars for running a Ponzi Scheme that took in more than $1 million worth of investments and gave little returns.
Candy Campbell was sentenced to 52 months in prison Thursday and ordered to pay a restitution of more than $700,000.
FBI spokesman Simon Shaykhet told WWJ Newsradio 950 about 80 people gave Campbell money to invest between 2009 and 2010 when she ran CJ's Financial.
"She was using their money that was supposed to be meant for safe investments -- you know, people may have been putting away for college or putting away for retirement -- and instead she was using this money to fund her boyfriend's softball team, to buy jewelry, furniture, airline tickets and enjoy a lavish time that they had paid for," said Shaykhet.
Shaykhet said that many of those Campbell ripped off were people she knew.
"The victims ranged from some of Candy's own relatives, some of her family members," he said. "And in addition to that there were former coworkers and friends who she had met over the years when she had met in an auto worker capacity."
In addition to the cash repayment, the judge ordered that Campbell forfeit myriad of items she purchased with the ill-gotten funds, including a car; jewelry and watches from Tappers, Helzberg, and Kay including a 14 ct white gold tennis bracelet with 216 round diamonds, a 2 ct diamond band and a men's solitaire ring; Swarovski crystal tigers; ebay items; sporting goods; a TV; iPods; both a laptop and desktop computer and other computer equipment.
