Maui woman suspected of operating Ponzi scheme arrested - Hawaii News Now - KGMB and KHNL

Maui woman suspected of operating Ponzi scheme arrested

By Ian Scheuring

KULA, Maui (HawaiiNewsNow) – A Maui woman suspected of operating an investment fraud scheme, commonly known as a Ponzi scheme, was arrested on Thursday.

Jedidah Duarosan, 37, was arrested at her home in Kula during a morning operation conducted by FBI and Maui Police officials. The arrest occurred without incident.

Indicted yesterday by a Federal Grand Jury in Honolulu, the criminal charges against Duarosan allege that she operated a Ponzi scheme that specifically targeted Maui residents. According to the indictment, Duarosan helped make several investment presentations to Maui residents, telling them that they were able to invest in a real estate development in the Philippines and a high-yield project involving gold in Indonesia.

Duarosan also allegedly promised another local investor that their money would be placed in an oil investment.

After collecting more than $800,000 from potential investors, court documents allege Duarosan used approximately $106,000 of the funds for various personal debt payments and at least $60,000 on failed land purchases on Maui.

Duarosan was schedule to appear in the courtroom of Magistrate Judge Puglisi in the Prince Kuhio Federal building in Honolulu this afternoon.

Duarosan's trial is scheduled for January 3, 2012.

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