FBI captures couple accused of Ponzi scheme - Hawaii News Now - KGMB and KHNL

FBI captures couple accused of Ponzi scheme

Billboard featuring the Griggs Billboard featuring the Griggs
Perry Griggs Perry Griggs
Rachelle Griggs Rachelle Griggs

KINGMAN, ARIZONA (HawaiiNewsNow) - A couple accused of scamming millions of dollars from Hawaii residents has been caught.

The Federal Bureau of Investigation announced Thursday the arrest of Perry and Rachelle Griggs in Kingman, Ariz.

While Perry was in prison on the mainland, the FBI says he and his wife Rachelle, conned Perry's fellow inmates and their families out of three million dollars. Nine of the victims are from Hawaii.

On Oct. 28, an indictment came down, saying the Griggs ran a Ponzi scheme, where they allegedly manipulated the victims into investing money into Aloha Trading, a fake company.

The FBI says the victims got mortgage loans, or liquidated their retirement and personal savings to invest in Aloha Trading.

In 2008, Perry was released from prison. He was serving time for another Ponzi scheme. And when the couple's alleged scam started falling apart, the FBI says the couple took off.

The couple will face an initial court appearance in Flagstaff, Ariz. before being moved to Honolulu to be arraigned.

Copyright 2010 Hawaii News Now. All rights reserved.

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