It’s not looking good for William J. Chaucer Jr.’s reign as King of Zeus in 2010.
Investigators with the Louisiana Attorney General’s Office along with the Tangipahoa Parish Sheriff’s Office arrested the Ponchatoula man today for allegedly creating a Ponzi scheme they say has cost at least 200 investors over $11 million dollars. The arrest is the result of a joint investigation between the AG’s Special Prosecutions Unit and Louisiana Office of Financial Institutions and was conducted under the supervision of 21st Judicial District Attorney Scott Perrilloux.
Chaucer was arrested on 20 counts each of the following: felony theft, unregistered dealer/salesman/investment advisor in the sale of securities, sales of unregistered securities, and making material misrepresentations in the sale of a security. He was booked into Tangipahoa Parish Prison; bond has not been set.
Chaucer is the principal of Chaucer Holding Company and finance companies Chaucer Financial Services, American Credit of Hammond, American Credit of Covington, and City Credit of Ponchatoula.
The AG says Chaucer told individual investors their money would be invested to fund one of his loan companies, but in fact, the vast majority of their money was used to finance Chaucer and his wife's extravagant lifestyle. Investigators claim investors unwittingly paid for more than $400,000 worth of Mardi Gras krewe memberships and krewe related expenses for the Chaucers, $5,500 in plastic surgery and $11,800 in cosmetic dental work for Cheryl Chaucer, $5,558 for tickets to and ads for the Senior America, Inc. pageant contest in which Mrs. Chaucer was a participant, $14,275.74 in miscellaneous photos, $20,905.74 in jewelry, and thousands more dollars associated with Mrs. Chaucer’s participation in beauty pageant events.
Chaucer closed his finance companies’ business operations in September 2009. Since then, none of the investors, whose individual investments ranged from $10,000 to $417,000, have received any funds from Chaucer or his companies. Since August, area residents and alleged victims have been posting comments to a glowing feature of the businessman in Sophisticated Woman magazine. The Northshore magazine also did a feature on Cheryl Chaucer titled "A True Louisiana Treasure."
The AG says several investors reported that requests to Chaucer to liquidate their assets and have their money returned were rejected.
DA Perrilloux will handle the prosecution of this case.
America is lost, says state Sen. Elbert Guillory, and that’s the reason he’ll be running for Lieutenant Gov. come 2015.
NOLA Bowl game day outfits
Accept no substitutions for homemade Eggnog
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Friday, December 13, 2013:
September's $509 million in sales pushed Lafayette Parish's nine-month total to $4.4 billion.
The Louisiana Supreme Court has punted on its first chance to decide whether a new state constitutional provision declaring gun possession a fundamental right could void a long list of criminal statutes that regulate firearms.
New Orleans' offense, which ranks sixth in the NFL, isn't helping many of its skill players pile up Pro Bowl-type stats. Rather, the approach of coach Sean Payton and quarterback Drew Brees has enabled a wide range of play-makers to emerge periodically with high-production outings.
An ordinance phasing out a rebate businesses receive for collecting and remitting sales taxes is tabled, but it doesn’t solve the vexing issue of government revenue.
From jewelry to home goods, deals abound
Forgiving shapes for NOLA Bowl
As part of a national undertaking known by industry insiders as the “Butterfly Project,” a rebranded version of The Daily Advertiser is set to launch with Sunday’s edition of the Gannett-owned paper.
Louisiana moved up a slot to 48th in the ranking of healthy states — once again, thank God for Mississippi! — so all this frettin’ about Gov. Bobby Jindal’s refusal to expand Medicaid per Obamacare ... fuggidaboutit! We don’t need Medicaid no more!
The Denham Springs woman who placed Christmas lights in the shape of a butter finger on her roof in a display of anger directed at neighbors has doubled the trouble for the 2013 holiday season.
The New Orleans architect behind the 1984 World’s Fair also left his mark on Lafayette.
Laid back vibe just right for NOLA Bowl
The 30-second commercial, to run around the state, is the Democratic senator's first TV spot in her bid for re-election to a fourth term.
It's a number that has edged up but falls far short of the thousands who are eligible for subsidized coverage.
A group of mostly higher education leaders will make recommendations to state lawmakers about how to tweak the policies governing tuition rates charged at the state's public colleges.
Week long specials and a ribbon cutting celebration held in Parc Lafayette
Fort Worth company's new facility at Lafayette Regional Airport will build helicopters primarily for the export market.