Michael K. Bleckley and Phillis M. Bleckley, both of Richland, Ga., were indicted Tuesday on counts ranging from a violation of the RICO Act to conspiracy to commit theft, District Attorney Julia Slater said.
The couple, accused of running a Ponzi-like operation between January 2001 and February 2006, were arrested Wednesday. The Bleckleys, who own the Warm Springs restaurant and gift shop The Bulloch House, are accused of acting as broker-dealers of MKB Capital Management Inc. and of being authorized to invest in the securities market, said Alonza Whitaker, chief assistant district attorney.
Whitaker added that the scheme unraveled when some people wanted their investment to be redeemed. When it didn’t happen, law enforcement got involved.
Both were indicted on charges of conspiracy to commit theft, failure to register as broker-dealer and a violation of the Georgia Racketeer Influence and Corrupt Organization Act, as well as seven counts each of theft by taking and selling unregistered securities, Slater said.
The selling unregistered securities charges involved $2,650,000, Slater added.
Phillis Bleckley was arrested around 9 a.m. Wednesday at their Richland home. Michael Bleckley was arrested around noon Wednesday while leaving a lawyer’s office in Albany, Ga., Slater said.