Tuesday, December 16, 2008

Crack Dealers Have Better Morals Than This

[This is a life-sized photo - TMR.]

"A 51-year-old Canton woman who spent nearly a year on the lam after she was convicted for her involvement in a Ponzi scheme that bilked church ministries and religious organizations out of more than $61 million has been sentenced to nine years in prison.

Cynthia Faye Setser was sentenced by U.S. District Judge Barbara Lynn last week to four years in prison for failing to appear in court and five years in prison for her involvement in the conspiracy case. She was ordered to pay restitution of $61.6 million.

Mrs. Setser was indicted in 2003 and pleaded guilty to securities fraud on March 16, 2006. She was allowed to remain out of jail on bond but failed to appear for her sentencing hearing on Jan. 16, 2007.

Mrs. Setser fled to Indiana, Georgia and finally Florida until she was captured on Dec. 5, 2007. She pleaded guilty to failure to appear.

Her husband Gregory Earl Setser was sentenced to 40 years in prison for his involvement in the scheme. His sister Deborah S. Setser was convicted and sentenced to 15 years in prison and Joshua Nathan Setser was sentenced to two years in prison.
[Gregory Earl Setser is the self-important loser on the right - TMR.]

IPIC Investments, Inc. was initially located in Canton but later was based in California.

The defendants were officers or employers of the company. Two other employees were also charged in the case, but a jury found them not guilty."

-- Casey Knaupp, covering another fraud case that includes A) an entire family B) a "spiritual" element, and C) California as a base of operations, in Texas' Tyler Morning Telegraph.

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