Michael Eugene Kelly

Michael Eugene Kelly (6 October 1949 – 22 December 2013) was a dual citizen of the U.S. and Mexico It was later disclosed that 7,000 victims from throughout the U.S. lost more than $342 million. All of his assets were located outside the U.S. On April 14, 2009, a court permanently enjoined him from violating sections of the Securities Exchange Act of 1934. On June 30, 2012, he remained in prison as the court liquidated assets with a view to providing partial restitution to victims of the Ponzi scheme.

In December 2012, he was sentenced to 5 years in prison with a $10-million bond to secure lenient periods of house arrest for treatment of colorectal cancer.

Kelly died on December 22, 2013, in South Bend, Indiana.