GRIMY TIMES EXCLUSIVE: In a stunning turn of events, GREGORY L. CRABTREE and JAMES M. DONNAN, III are facing an 85-count indictment for a massive Ponzi scheme that operated in the Middle District of Georgia and beyond from 2008 to 2010.
The pair, accused by United States Attorney Michael J. Moore for the Middle District of Georgia, have been charged with conspiracy to commit wire and mail fraud, among other serious charges. The indictment outlines a complex web of deceit that could lead to decades behind bars if convicted.
CRABTREE, from Proctorville, Ohio, and DONNAN, III, of Athens, Georgia, are each facing the prospect of twenty years imprisonment and a $250,000 fine on top of three years of supervised release for conspiracy charges alone. The indictment details mail fraud (counts two through thirteen) and wire fraud (counts fourteen through thirty-six), with each count carrying its own heavy penalty.
Counts thirty-seven through fifty-one involve the unlawful transportation of interstate securities, while counts fifty-two to seventy-one pertain to money laundering activities. The most severe charges are against DONNAN for conspiracy to launder proceeds, which carries a potential sentence of up to twenty years imprisonment and a fine of $500,000 or twice the value of the funds involved.
The investigation into this alleged scheme was a joint effort by the Federal Bureau of Investigation and the United States Internal Revenue Service. Property and assets of both defendants are subject to forfeiture as per federal law.
As the gritty details of their alleged crimes unfold, CRABTREE and DONNAN will face an initial appearance before United States Magistrate Judge Charles Weigle today at 3:30 p.m. The public affairs specialist for the U.S. Attorney’s Office, Sue McKinney, is available to address any inquiries regarding this case at (478) 621-2601.
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Key Facts
- State: Georgia
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|Public Corruption|White Collar Crime
- Source: Official Source ↗
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