{"id":6606,"date":"2018-10-08T17:36:02","date_gmt":"2018-10-08T17:36:02","guid":{"rendered":"http:\/\/www.investorlawyers.com\/?p=6606"},"modified":"2018-10-08T17:36:02","modified_gmt":"2018-10-08T17:36:02","slug":"man-accused-of-defrauding-retirees-and-widows-in-54m-ponzi-scam-is-on-trial","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/man-accused-of-defrauding-retirees-and-widows-in-54m-ponzi-scam-is-on-trial\/","title":{"rendered":"Wayde McKelvy, Accused of Defrauding Retirees and Widows in $54M Ponzi Scam, is Now on Trial"},"content":{"rendered":"<p>\t\t\t\tWayde McKelvy, who is accused of playing a key role in a $54M <a href=\"https:\/\/www.investorlawyers.com\" target=\"_blank\" rel=\"noopener noreferrer\">Ponzi scam<\/a> that targeted unsophisticated investors, is on trial before a federal jury. According to the US government, McKelvy, who is a former co-owner of Mantria Corp., and two others allegedly sold fake investments in green energy and land to investors, including retirees and widows, and then used the funds to support their luxury lifestyles.<\/p>\n<p>Investors were promised up to 50% returns on a supposed new charcoal substitute comprised of organic waste, as well as on real estate in Tennessee. The land, however, was never developed.<\/p>\n<p>Meantime, investors were told that the Tennessee land was valued at over $100M. Through Mantria Financial, the alleged co-conspirators assisted investors in purchasing investments in both the land deals and the charcoal substitute, known as \u201cbiochar.\u201d<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/man-accused-of-defrauding-retirees-and-widows-in-54m-ponzi-scam-is-on-trial\/\"  title=\"Continue Reading Wayde McKelvy, Accused of Defrauding Retirees and Widows in $54M Ponzi Scam, is Now on Trial\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wayde McKelvy, who is accused of playing a key role in a $54M Ponzi scam that targeted unsophisticated investors, is on trial before a federal jury. According to the US government, McKelvy, who is a former co-owner of Mantria Corp., and two others allegedly sold fake investments in green energy and land to investors, including [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6607,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792,3803],"tags":[2872,3160],"class_list":["post-6606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ponzi-scams","category-senior-investors","tag-ponzi-scam","tag-wayde-mckelvy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Wayde McKelvy, Accused of Defrauding Retirees and Widows in $54M Ponzi Scam, is Now on Trial &#8212; Investor Lawyers Blog &#8212; October 8, 2018<\/title>\n<meta name=\"description\" content=\"Wayde McKelvy, who is accused of playing a key role in a $54M Ponzi scam that targeted unsophisticated investors, is on trial before a federal jury.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/man-accused-of-defrauding-retirees-and-widows-in-54m-ponzi-scam-is-on-trial\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Wayde McKelvy, Accused of Defrauding Retirees and Widows in $54M Ponzi Scam, is Now on Trial &#8212; Investor Lawyers Blog &#8212; October 8, 2018\" \/>\n<meta name=\"twitter:description\" content=\"Wayde McKelvy, who is accused of playing a key role in a $54M Ponzi scam that targeted unsophisticated investors, is on trial before a federal jury.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/10\/10.8.18.jpeg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wayde McKelvy, Accused of Defrauding Retirees and Widows in $54M Ponzi Scam, is Now on Trial &#8212; Investor Lawyers Blog &#8212; October 8, 2018","description":"Wayde McKelvy, who is accused of playing a key role in a $54M Ponzi scam that targeted unsophisticated investors, is on trial before a federal jury.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/man-accused-of-defrauding-retirees-and-widows-in-54m-ponzi-scam-is-on-trial\/","twitter_card":"summary_large_image","twitter_title":"Wayde McKelvy, Accused of Defrauding Retirees and Widows in $54M Ponzi Scam, is Now on Trial &#8212; 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