North Carolina couple accused of swindling victims of money - WECT, weather & sports Wilmington, NC

North Carolina couple accused of swindling victims of money

RALEIGH, N.C. (AP) - Officials accuse a North Carolina couple of posing as securities dealers over nearly five years and swindling people out of thousands of dollars.

The News & Observer of Raleigh reports the N.C. Secretary of State's office says 60-year-old John Jerome Palczuk and 61-year-old Karen Elizabeth Palczuk of Raleigh face multiple charges, including securities fraud. Arrest warrants filed Wednesday said the offenses occurred between June 2004 and April 2009.

Investigators said the Palczuks sold shares of their company to investors, then agreed to repurchase them at 115 percent above the original price. The investigators said the Palczuks didn't tell investors that two contractors had liens on the company's property, or that three more contractors had filed lawsuits.

Both are jailed on $100,000 bond apiece. It's not known if they have attorneys.

Information from: The News & Observer,

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