According to a federal criminal Complaint filed in U.S. District Court in the Middle District of Florida, David R. Lewalski, 47, formerly of Gainesville, FL, and his co-conspirators allegedly solicited money about $30 million from hundreds of investors based on false statements that Lewalski could earn the investors up to 10 percent interest per month by trading on the foreign currency (Forex ) market.
The Complaint alleged that Lewalski, who operated a company called Botfly LLC:
- invested only a small portion of investors’ funds in trading activities;
- generated little, if any, profits trading FOREX;
- paid “interest Payments ” totaling approximately $15 million to investors using other investors’ money (a classic Ponzi device); and
- spent lavishly on himself, his friends and his family — spending millions of dollars leasing high-end New York City real estate, private jets, and purchasing luxury automobiles (Porsches and a Ferrari), clothing and jewelry (including a gold and diamond Rolex watch).
Judge Whittemore also ordered Lewalski to forfeit more than $29.8 million and numerous computers.
