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Fenton man charged in multimillion-dollar scam

8:39 AM, Feb 7, 2011   |    comments
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BAY MINETTE, Ala. (AP) - Authorities say three men are facing securities fraud charges involving what officials call a multimillion-dollar investment scam.

Jail records show 37-year-old Paul Liggett of Fenton, Mo., was booked into the Baldwin County Corrections Center on Thursday and was released on $35,000 bail. On Jan. 28, 33-year-old Michael David Judd of Studio City, Calif., was booked and later released on $100,000 bail.

Both men are scheduled to be arraigned March 18 in Baldwin County Circuit Court.

Charges for both men stem from an alleged scheme involving 38-year-old Richard Tucker of Robertsdale, and his company, Synergy Finance Group. Tucker is due in court next week.

Officials say agents persuaded investors to wire money to Synergy accounts with the promise of multimillion-dollar returns.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

Associated Press

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