Friday, December 05, 2014
Noblesville Businessman Charged In $6 Million Ponzi Scheme
Another day, another Ponzi schemer is busted right here in Central Indiana, which is beginning to look more like the Ponzi scheme capital of the world. WISH-TV's Karen Hensel has an exclusive, inside look at a Noblesville businessman, John Marcum, who has been indicted by the U.S. Attorney's Office in Indianapolis today for operating a $6 million Ponzi scheme through his business, Guaranty Reserves Trust, which robbed at least 16 small investors out of their life-time savings. Marcum, who once served as an agent for Indy Car driver Arie Luyendyk, used investors money to fund a lavish lifestyle. Marcum formerly worked as a broker for Merrill Lynch before venturing out on his own. "When you live in a culture which we definitely do now that says if you're not cheating, you're not trying," Marcum told Hensel in explaining his actions with little remorse. That pretty much sums up what America has become. If you don't lie, cheat and steal, you don't have much hope of getting ahead in this country as sad as that sounds. Read the federal complaint against Marcum below.