A 43-year-old Bremen, Ga. man has been indicted by a federal grand jury on a charge of operating a $7 million investment scam. Jeffrey Wallace Edwards is scheduled to have a bond hearing before U.S. Magistrate Judge Linda Walker on Monday. U.S. Attorney David Nahmias said starting early in 2006 Edwards promised investors they would receive returns of between 40 and 150 percent on money they placed in his "high yield" investment programs. Nahmias said between February 2006 and February 2008, 31 investors mailed or electronically transferred more than $7.4 million to Edwards, who allegedly spent the money on real estate, vehicles, jewelry, fur coats, art, gambling trips to Las Vegas and family cruises.
(Associated Press)
(Associated Press)
