Pa. Lawyer Is Charged with Mail Fraud in Alleged Ponzi Scheme
Posted Mar 30, 2012 10:09 AM CST
By Debra Cassens Weiss
A 77-year-old Pennsylvania lawyer used a walker and carried his belongings in a plastic bag when he was arraigned Thursday in federal court on a charge of mail fraud in an alleged Ponzi scheme.
Anthony Lupas Jr. was released on his own recognizance and ordered to wear an electronic monitoring bracelet, report the Scranton Times-Tribune and the Wilkes-Barre Times Leader. Prosecutors say the scheme cost investors an estimated $4 million to $5 million in losses.
Agents raided Lupas’ Wilkes-Barre law office the day of his arrest, seizing documents, computer hard drives and a handgun, the Times-Tribune says.
Lupas’ son, Luzerne County Judge David Lupas, has said he asked for an investigation last year after his father suffered injuries in a fall, leading the judge to discover circumstances warranting a probe. Prosecutors say Anthony Lupas was unable to keep up interest payments to investors after he injured his hip in the accident.
Anthony Lupas appeared apologetic when he refused to comment to reporters, according to the Times Leader. “Don’t take it personally," he said.