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Details emerge about man accused in Ponzi scheme

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 BOZEMAN, Mont. (AP) -- Court documents say a Belgrade man committed 20
felonies in running a Ponzi scheme.
   The recently filed documents detail allegations against Richard Reynolds, who
 is accused of accused of using church leaders to bilk people of more than
$5 million.
   The Bozeman Daily Chronicle reports the documents say Reynolds convinced
 churchgoers in 21 states to invest in gold, mining and foreign currency. The
 documents also say he had people in South Korea, Canada and Germany to
 give him money.
   Authorities have not located Reynolds, who also known as Richard Adkins. 
A $10 million warrant has been issued for his arrest.
   Neighbors say Reynolds is a good man who has 10 children. He lives in a
Belgade home with sweeping views of the Bridger Mountains.
   AP-WF-03-26-12 1414GMT

 

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