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.
Abshire has rejoined the Lafayette Bar Association, where she previously served as marketing coordinator under longtime Executive Director Susan Holliday
Home-grown Baton Rouge market/deli heads to Lafayette.
Deadline for submitting noms for annual competition is March 15
Whitney Bank officials have confirmed that the downtown branch will cease to exist when it relocates its regional headquarters to River Ranch at the end of May.
So far the Democratic agenda includes proposals to expand Medicaid; increase the minimum wage; offer equal pay to women; heighten regulations on predatory lending practices, like payday loans; and add more transparency in the governor’s office.
Hot-button education issues ranging from Common Core to charter schools have some lawmakers pushing to scrap the appointing process and go back to electing the state's super.
Downtown Lafayette restaurant launches new concept near Le Triomphe
Police say the handcuffed man fatally shot himself in the back, but his family isn't buying the story.
Yeah, it's smoked venison sausage stuffed in a suckling pig stuffed in a lamb and roasted over an open fire.
Acadiana's nightlife guide.
Gov. Bobby Jindal offered a budget proposal that suggests new education and health care spending, pay raises for state workers and an incentive fund to encourage colleges to enhance their science, engineering and technology training.
Reamco founders Brent Milam and Ashley Lane now shareholders in acquiring company and part of its management team.
Low heels, high style
Here's your daily look at late-breaking national and international news, upcoming events and the stories that will be talked about Tuesday, March 11, 2014:
The board hopes to recover all fees paid, plus one-half, along with what could amount to hundreds of thousands in additional penalties.
Oh, the irony... or something like that.
Acadiana's nightlife guide.
Hopefully he’ll be better prepared today than he was in that Feb. 20 deposition.
They came by the hundreds, arriving from all regions of the state to gather on the steps of our Capitol in protest of the Legislature’s long tradition of giving industry the go-ahead to abuse our air, our water and our coastline, all in the name of good economics.
Gov. Bobby Jindal’s recent rhetoric against President Barack Obama has failed to boost his standing among the conservative base.
Louisiana's annual legislative session begins.
The state has hired marksmen to shoot feral hogs from helicopters at two wildlife management areas in south Louisiana.
St. Patty's Day crafts
New menu items ready for the Lenten season
The Cane Fire Film Series screens “MaidenTrip” on Monday, March 10, at the AcA.
Acadiana's nightlife guide.
The vibe of the tribe done modern
The Louisiana Workforce Commission said Friday that initial claims rose to 2,125 from the previous week's total of 1,964. There were 2,887 initial claims during the comparable week in 2013.
The Board of Elementary and Secondary Education has stalled action on a $3.5 billion annual school funding formula due to state lawmakers by March 15.