17 August 2009

Accused Ponzi Duo From Sarasota Arrested in Sri Lanka

16th August 2009, www.theledger.com

Sarasota's John and Marian Morgan -- who fled the country in July to avoid federal contempt charges in connection with a get-rich-quick banking scheme -- have been arrested by authorities in Sri Lanka.

The couple were picked up on separate charges of running a fraudulent banking scheme, charges originating in the island nation off the southeast coast of India.

The Sri Lankan government is now reaching out to U.S. officials in an effort to figure out what to do next with the Morgans. The choices include extraditing them to the United States or prosecuting them first under Sri Lankan law.

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