The Knoxville News Sentinel is reporting that a Gatlinburg man accused of running a multi-million dollar Ponzi scheme has been indicted on six counts of wire fraud and money laundering.
A federal grand jury indicted Dennis R. BolzeBolze, 60, with three counts of wire fraud and three counts of money laundering, stemming from a scheme to defraud numerous individuals who invested funds with him, U.S. Attorney Russell R. "Russ" Dedrick announced today.
The indictment charges that Bolze defrauded the investors using two shell companies, Centurion Asset Management Inc. and Advanced Trading Services.
He is alleged to have solicited millions of dollars under "false pretenses, failing to invest investors' funds as promised and misappropriating and converting funds to (his) own benefit without the knowledge or authorization of the investors."
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