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 News Archive 2019

A California man is accused of using a Ponzi scheme to steal over $6 million from the
elderly and veterans
by Nathan'ette Burdine: May 16, 2019

Forty-six-year-old Christopher Dougherty is the San Diego, California man who the state and feds have accused of spending five years of his time using a Ponzi scheme to steal over $6 million from the elderly, veterans, and school teachers.

According to the state and the feds, Christopher Dougherty used his skills as a financial advisor in order to dupe the needy into giving their little bit of money to him, the greedy. Here’s how it all happened.

The U.S. Securities And Exchange Commission (SEC) said that Dougherty used his financial advisor skills to convince folks working at the hospitals, schools, veterans, and his neighbors that they would get a really sweet deal if they put their money into his farm (JTA Farm Enterprises, LLC) and his real estate business (JTA Real Estate).

Christopher Dougherty allegedly told folks they would be getting money back in two ways. First, they wouldn’t have to pay the government any money on the money they invested with him. Second, their dividends would amount to somewhere around 5%.

Everybody looked at that and they were like, “He’s a financial advisor who knows the financial advisor’s lingo. He said no taxes and we get high returns. Sounds good.”

Weeellll, things didn’t turn out so “good” with the low-budget Bernie Madoff. Christopher Dougherty lived high off the hog with those folks’ money. He bought shoes. He bought clothes. He bought wine. He bought food. He bought boats. He bought cars. He bought houses. He bought! He bought! He bought until he got caught!

Last year, the state and feds caught up to Dougherty after some angry investors came to them telling them about how their money wasn’t adding up to change and that something had to change around there.

Christopher Dougherty got wind of all of that it and decided that it would be best for he and his wife to play the bankruptcy card.

So, he and his wife spent last October filing for bankruptcy. Christopher Dougherty was like, “I’m only innocent of trying to help hard decent working Americans to expand their portfolios.”

And the state and feds were like, “No buddy, you’re guilty of trying to expand your wallet and your house. You’re going down and it won’t be to Chinatown. CUFF HIM BOYS! You have the right to remain silent and to do whatever else it says on that little card that you have a right to do.”

On April 26, 2019, Christopher Dougherty ended up before a judge with charges coming at him from each and every direction.

The state of California charged him. The United States government charged him. In all, he had 82 felonies which included grand theft and fraud.

The state and feds know of 31 people who are allegedly victims of Christopher Dougherty’s Ponzi scheme. The state and feds believe that number could increase to 26, bringing the total number of allege victims to 57.

Christopher Dougherty faces a long, loonngg, looonnnggg time (a maximum of 35-years) in prison if a jury of his peers decide he did all that the state and feds say he did.

The good news for him is that he may not have to serve his state and federal time separately because the feds may decide to let him serve his federal time concurrently along with his state time.

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