Apostelos scheduled to plead Friday in Ponzi case

The Springboro man accused of running a Ponzi scheme that allegedly bilked hundreds of investors out of tens of millions of dollars is scheduled to plead Friday in Dayton’s U.S. District Court.

William Apostelos is scheduled to appear in front of U.S. District Court Judge Thomas Rose for a plea hearing. Apostelos and his wife Connie last appeared in court Jan. 20 when a plea was possible but didn’t happen, and their trial was scheduled for April 4.

The Aposteloses were indicted in 2015 on 27 counts alleging that they defrauded nearly 500 investors out of tens of millions of dollars in a $70 million Ponzi scheme during at least a five-year period from 2009 to 2014.

The trial date has been pushed back several times, and three other people have pleaded guilty to related crimes. Last month, Apostelos’ attorney Steven Scudder pleaded guilty to wire fraud. Last year, Apostelos’ sister and the sister’s daughter each pleaded guilty to one count of conspiracy.

Both William and Connie Apostelos have been on electronic home monitoring. William Apostelos faces civil lawsuits also related to his busineses and a forced bankruptcy case.

Rose recently dismissed a lawsuit brought by Apostelos' alleged victims against PNC Bank. The suit said PNC missed obvious signs that Apostelos used his accounts in a suspicious manner.

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