LIVE VIDEO: Channel 3 Weather    Watch
 

Investigator: Amish 'Bernie Madoff' sentenced in fraud case

12:15 PM, Jun 13, 2012   |    comments
  • Share
  • Print
  • - A A A +

YOUNGSTOWN -- A man has been sentenced to 6-and-a-half years in prison in connection with a scheme that federal prosecutors say defrauded the Amish community out of nearly $17 million.

It was a story first reported by The Investigator Tom Meyer.

Monroe L. Beachy, 78, of Sugarcreek pleaded guilty last year to one count of mail fraud.

"This was fraud on a massive scale," said Steven M. Dettelbach, United States Attorney for the Northern District of Ohio. "This defendant took advantage of people's trust in him and squandered the life savings of hundreds upon hundreds of families."

Prosecutors say beginning in or about 1990 and continuing through June 2010, Beachy told investors that money deposited with his A&M Investments would be safe and would bring a positive rate of return.

Among the investors that lost money was the Amish Helping Fund, which was established to assist members of the Amish community with the purchase of land and buildings, among other things, according to court documents.

WKYC-TV

Most Watched Videos