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Alleged ponzi scheme mastermind’s ‘prison note to wife to hide assets found in his sock by guards’

Kevin B. Merrill is accused of writing a prison note to his wife telling her to hide their assets

An alleged ponzi scheme mastermind is accused of writing a prison note to his wife telling her to hide their assets including the ‘good wine and the golf clubs’.

The instructions were said to have been found in Kevin B. Merrill’s sock by guards at the Maryland prison as he faces charges of defrauding investors of more than $364 million.

Merrill, 53, allegedly wrote: ‘Have your dad take my golf clubs. Hide cash or checks, drink good wine in sub zero’s, replace with s**t wine in basement.

‘F*** them. They have taken enough! Get stuff out.’

Stuff is said to refer to their luxury Louis Vuitton items after prosecutors say he spent $800,000 on the brand over five years.

Prosecutors revealed the note after charging his 30-year-old wife Amanda with conspiracy, obstruction, disobeying a court order and removing property to prevent its seizure.

The couple are accused of speaking in code when discussing their $10 million Florida mansion after feds listened in on their calls.

One of the properties in Stevenson, Maryland (pictured) which has been seized by the FBI

One of the properties in Stevenson, Maryland (pictured) which has been seized by the FBI

The accused bought multiple properties, fancy watches, a boat and more than 20 high-end cars and spent $25million on casino gambling

The accused bought multiple properties, fancy watches, a boat and more than 20 high-end cars and spent $25million on casino gambling

The properties (pictured) were purchased through the proceeds of the alleged Ponzi scheme

The properties (pictured) were purchased through the proceeds of the alleged Ponzi scheme

One of several properties mentioned in an indictment as authorities say they intend to sell $20 million worth of mansions owned by the men

One of several properties mentioned in an indictment as authorities say they intend to sell $20 million worth of mansions owned by the men

Some of the luxury cars that were allegedly fraudulently purchased and seized by the FBI

Some of the luxury cars that were allegedly fraudulently purchased and seized by the FBI

When Kevin is said to have told her the note had instructions to sell his golf clubs, drink the good wine and hide the art, Amanda is said to have replied: ‘I’m not going to do any of that. They’re listening to everything.’

The Baltimore Sun reported Amanda Merrill was released without bail on December 11 and her attorney declined to comment.

Kevin Merrill, of Texas, was arrested alongside his business partner, Jay Ledford, 54, of Las Vegas, over a $364 million investment scheme that was to allegedly fund luxury cars, jewelry and $25 million worth of casino gambling.

CBS Baltimore reports the pair are accused of willingly devising a scheme to defraud investors of millions from January 2013.

A third man, Cameron Jezierski, 28, of Fort Worth, Texas, was indicted for wire fraud after prosecutors said he helped the men create fake paperwork.

They are accused of inviting people to buy consumer debt portfolios and falsely represented that they’d profit from debt payments and flipping portfolios.

Jay Ledford also faces charges over the alleged fraudulent scam

Cameron Jezierski was indicted for wire fraud after prosecutors said he helped the men create fake paperwork

Jay Ledford (left) and Cameron Jezierski (right) face charges over the alleged fraudulent scam 

In September last year, US Attorney Robert Hur announced at a news conference in downtown Baltimore that the men were arrested and charged with conspiracy, wire fraud, identity theft and money laundering.

The alleged scheme is thought to have entrapped more than 400 victims nationwide.

Merrill is said to have spent $50,000 on private flights and $100,000 at Las Vegas casinos and bought a $950,000 Bugatti Veyron and $37,500 of designer watches and jewelry.

He is also said to have collected rare wine and prosecutors say he decorated his mansion with Monopoly character Rich Uncle Pennybags.

Authorities gave details of the scheme (pictured) they say was used to defraud 400 investors

Authorities gave details of the scheme (pictured) they say was used to defraud 400 investors

Both Merrill and Ledford were issued with a restraining order barring them from selling their sports cars, mansions and designer clothes by a federal judge.

The authorities say they intend to sell $20 million worth of mansions owned by the men plus the fleet of 34 cars, motorcycles and boats.

Merrill and Ledford have pleaded not guilty. Each man reportedly faces more than 200 years in prison if convicted.

A Ponzi scheme is a fraudulent investing scam promising high with little risk to investors.

The scheme generates returns for older investors by acquiring new investors.

It is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers.

 

Read more at DailyMail.co.uk


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