Wesley Snyder: Another Ponzi Scam

Since I spend a load of time commuting, I listen to an awful lot of KYW 1060.  I “give them 22 minutes” as they say, and they “give me the world.”  22 whole minutes of it.  Basically what they give is what they conisder to be the top news events of the day.  National news, local news, and anything in between.  The last few weeks on more then one occasion, I have heard reports of another PONZI SCAM.  This one was in PA, (Montgomery, Chester, Berks, and Bucks Counties) and used mortgages as its scam.  It is alleged that Wesley Snyder has been an operator in a scam that was in the $40 million range before it collapsed.  Apparently Wesley Snyder, like our Glyn Richards, is not new to allegations of decieving investors.  The  88-page complaint in the Berks County Court of Common Pleas, by Attorney General Tom Corbett is at least the fourth lawsuit seeking restitution for victims of Wesley A. Snyder and his Berks County companies.  (Read full Philadelphia Inquirer story here.)

I will watch this closely as I know what these people are going through.  For those of you that love to speculate about the inner circle of a scammer and how they are held responsible, according to this story his wife and several employees are also facing a civil lawsuit.  I will also watch closely as I will be curious to see how the wheels of justice move in another state in regards to a ponzi scam.  Good Luck to those of you that were duped.

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3 Responses to Wesley Snyder: Another Ponzi Scam

  1. haz says:

    Well PA already has one step up on the FEDS and NJ CCPO because the wife has been held responsible also!!!!

    Mrs. Glynn is still spending money and living it up in NewTown PA. – go figure!!

  2. Scammed in PA says:

    Being a victim of Wesley Snyder, I would be glad to keep you abreast on this criminal’s life. He is to be sentenced Wednesday in Federal Court (Harrisburg, PA) on one count of mail fraud. He deceived 811 people out of $40 million over 20 years. He just wrote a letter to the judge and the victims (although I never got a letter mailed to me – I read it online) asking for mercy and to have no jail time because of his ill health and advanced age (he is 72). He could be sentenced 10-12 years. This guy is a real treat. He said he had nothing but good intentions and anyone who actually knows him would know he didn’t mean any malice. Right. He was selling mortgage the day before he filed for bankruptcy! He paid himself and his wife $3.5 million in the last few years. So many of his victims are financially crushed and the judge is supposed to have pity on him….don’t you just love the inner workings of a criminal mind?

  3. Jerry Fallabel says:

    Wesley Snyder, his wife and people like Jackie Hepford who fronted for his illegal scheme should all die and go to hell. He has hurt and ruined countless lives. What he and him minions have done is unconscionable. I do not have any idea how any of them can sleep at night knowing they have hurt so many people

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