A Trafalgar man who investigators said sold more than $1.5 million in fake investments was sentenced to 10 years in prison.
Rudolf “Rudi” Pameijer, 64, told people he was a financial expert and persuaded them to invest with his company, Plan America Inc. The longtime insurance salesman persuaded clients from Johnson and Hendricks counties and Colorado to cash out annuities or pull money out of retirement funds and suffer large penalties in order to invest in his Ponzi scheme, according to the Indiana Secretary of State’s Office.
Unlike some investment scams where people promise investors they will double or triple their money in a short period, Pameijer offered more modest gains. He typically promised returns of 3 to 15 percent, based on the performance of foreign markets, secretary of state spokeswoman Valerie Kroeger said.