Michigan Attorney General Bill Schuette has filed 33 felony charges against Scott Rookus of Jenison for his role in running an alleged Ponzi scheme from 2010 to 2015.
Rookus has been charged with: one count of Conducting a Continuing Criminal Enterprise, a 20 year felony; one count of Embezzlement of $20,000 or more but less than $50,000, a 10 year felony; two counts of Embezzlement of $50,000 or more but less than $100,000, a 10 year felony; five counts of Embezzlement of $100,000 or more, a 20 year felony; seven counts of Obtaining Money by False Pretenses over $20,000, a 10 year felony; one count of Obtaining Money by False Pretenses over $100,000, a 20 year felony; eight counts of Larceny by Conversion of $20,000 or more; eight counts Fraudulent Sales of Securities.
“The crime this man allegedly committed, destroyed the savings of many who are on a fixed income,” said Schuette. “Instead of admitting his mistakes he furthered his criminal enterprise in an attempt to cover his already illegal dealings. I hope this will provide some relief and repayment for those affected...”
Rookus was arraigned on June 7 in Ottawa County Circuit Court before Judge Post. He was released on $10,000 Cash/Surety bond., but was required to surrender his passport. He must request court permission for any travel outside Michigan and cannot have contact with any victims named in the complaint.
Between 2010 and 2013 Rookus allegedly solicited and obtained investments of approximately $1.5 million for his holdings company, New Haven Holdings. His customers many of whom were senior citizens, were allegedly told that earnings from their investments would come from the profits of Rookus’ enterprises, when in fact the money he took resulted in an alleged Ponzi-scheme from which he was the primary beneficiary.
To cover his tracks, Rookus allegedly issued fraudulent returns to some investors using money from newer investors. He allegedly used the investor funds to pay personal expenses such as his children’s private school education and to pay of tax liens against him.
The alleged scheme was uncovered after Rookus filed for personal bankruptcy in March 2015 and his investors found out that they had lost everything they invested.
The defendant is presumed innocent until proven guilty.
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