Two men were indicted this week by a federal grand jury in Mississippi, accused of taking part in an $85 million Ponzi scheme involving a fictitious lumber company, a prosecutor says. Photo courtesy Vladimir Solomyani on Unsplash

JACKSON, Miss. (AP) — Two men were indicted this week by a federal grand jury in Mississippi, accused of taking part in an $85 million Ponzi scheme involving a fictitious lumber company, a prosecutor says.

Ted Brent Alexander, 55, and Jon Darrell Seawright, 49, both of Jackson, are each charged with one count of conspiracy to commit securities fraud and wire fraud, one count of securities fraud and four counts of wire fraud involving a scheme to defraud investors, according to Darren J. LaMarca, Acting U.S. Attorney for the Southern District of Mississippi.

Alexander, a prominent lobbyist, and Seawright, a lawyer, are accused of promising “guaranteed” returns to investors in a sophisticated scam involving nonexistent timber deals, according to the statement released Thursday.

A lawyer for Seawright did not respond to a request for comment Friday from The Associated Press.

Jonathan Matthew Eichelberger, the lawyer representing Alexander, said: “We have complete faith in the criminal justice system, and trust that the judge and jury will get this right.”

The indictment alleges that from January 2011 through December 2018, Alexander and Seawright misled…

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