More Victims Line up in Manors Ponzi Scheme
When SFGN first reported on the financial swindle that allegedly preyed on residents of Wilton Station, there were 13 people signed up with a law firm, readying themselves to sue those accused of defrauding them. There are now 22.
The alleged victims have hired the law firm of Becker and Poliakoff, the same firm that once represented the victims of the Bernie Madoff scheme. Today they are after George Elia, who purportedly took their money while promising hefty returns that never fully materialized.
The victims are claiming that a local resident, Jim Ellis, introduced them to Elia through parties hosted at Wilton Station and nearby bars, hosted by his own daughter, Janet, who also serves as the property manager at the condominium complex. Each claim no wrongdoing in the incident.
While sources claim Elia is under investigation by the FBI, no criminal charges have been filed against him. As reported last month in the Sun Sentinel, a California family has sued him for fraud. Additionally, the Office of Financial Regulation, a federal agency, has also recently confirmed that its investigators are looking into the matter, while noting an investigation is not a barometer of guilt.
One of the anonymous complainants in SFGN’s first report about the Ponzi scheme has now come forward. Previously identified only as ’Jefferson,’ Wilton Station resident Rick Khun has acknowledged he poured upwards of $100,000 in investments into Elia’s scheme, and lost a small fortune.
"I want to stand up for what is right and give the facts - and was earlier encouraged by legal entities to stay quiet," he said. "But the serious nature of this situation begets the facts coming out now."
Khun said he wanted to protect his Wilton Station friends and fellow residents in moving forward, to stop any corruption before it may affect Wilton Station property values, and "see to it that the maximum civil and criminal penalties are given to all involved parties of this deepening and outrageous scam."
"Every day that this situation continues to exist," he claims, the legal liability on the management company and on the board, individually, "goes exponentially up and up and up." Khun had served on Wilton Station’s Board of Directors from 2008 to 2010.
The Board of Directors issued a letter to residents and members on Feb. 29, stating its full support of Janet on the basis that she’d denied any wrongdoing.
"I cannot understand why they have not acted in the best interests of the Wilton Station resident family," Khun said.
"The current Board of your Association has complete faith in the capability and integrity of Ms. Ellis," the letter read, adding that the board "has found that the allegations against her do not impact her ability to continue to do an outstanding job for your Association."