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Complaint alleging Ponzi scheme

The Idaho Department of Finance has sued former Bonner County real estate agent Dale E. Lowell and son Luke, alleging Dale Lowell ran a Ponzi scheme that defrauded investors of more than $2 million. The complaint filed Friday in Bonner County District Court says 23 investors initially entrusted $5,000 to $25,000 with Lowell, who promised returns of 10 percent per month based on trades in stock options earning 30 percent per month.


 

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Tags:Dale E. Lowell, Idaho Department of Finance, Internal Revenue Service, IRS, Luke D. Lowell, ponzi scheme

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