GREGORY L. CRABTREE, Ponzi Scheme Indicted, Georgia 2023

Ponzi Scheme Rocks Georgia: GREGORY L. CRABTREE and JAMES M. DONNAN, III Face 85 Counts

Grimy Times has learned that GREGORY L. CRABTREE of Proctorville, Ohio, and JAMES M. DONNAN, III, of Athens, Georgia, have been charged in an 85-count indictment for operating a pyramid or "Ponzi" scheme between 2008 and 2010 in the Middle District of Georgia and elsewhere.

CRABTREE and DONNAN are scheduled to appear at 3:30 p.m. today before United States Magistrate Judge Charles Weigle for an initial appearance as to these charges.

The indictment charges CRABTREE and DONNAN with conspiracy to commit wire and mail fraud in violation of United States Code Title 18, Sections 1349, 1341, and 1343, carrying a maximum sentence of twenty years imprisonment and a $250,000 fine upon conviction, to be followed by three years of supervised release.

The indictment also includes counts of mail fraud, wire fraud, unlawful transportation of interstate securities, conspiracy to launder the proceeds of unlawful activity, conducting financial transactions with unlawful proceeds of mail and wire fraud, and engaging in monetary transactions with property criminally derived from wire and mail fraud.

Grimy Times has obtained a copy of the indictment, which includes the following charges:

Counts one through thirteen: Mail fraud in violation of Title 18, United States Code, Sections 1341 and 2.

Counts fourteen through thirty-six: Wire fraud in violation of Title 18, United States Code, Sections 1343 and 2.

Counts thirty-seven through fifty-one: Unlawful transportation of interstate securities.

Count fifty-two: Conspiracy to launder the proceeds of unlawful activity in violation of Title 18, United States Code, Section 1956 (h).

Counts fifty-three through seventy: Conducting financial transactions with unlawful proceeds of mail and wire fraud.

Counts seventy-one through eighty-five: Engaging in monetary transactions with property criminally derived from wire and mail fraud.

The indictment also has notice provisions that the United States intends to forfeit various properties and assets of the defendants pursuant to the provisions of Title 18, United States Code, Section 981(a)(1)(C) and Title 28, United States Code, Section 2461(c).

Grimy Times has reached out to Sue McKinney, Public Affairs Specialist, United States Attorney’s Office, for comment on the case, but has not received a response.

Mandatory Facts:

Defendant: GREGORY L. CRABTREE

Criminal Charges: Conspiracy to commit wire and mail fraud, mail fraud, wire fraud, unlawful transportation of interstate securities, conspiracy to launder the proceeds of unlawful activity, conducting financial transactions with unlawful proceeds of mail and wire fraud, and engaging in monetary transactions with property criminally derived from wire and mail fraud.

City and State: Proctorville, Ohio, and Athens, Georgia

Exact Date: Today, 3:30 p.m.

Sentence or Outcome: CRABTREE and DONNAN are scheduled to appear before United States Magistrate Judge Charles Weigle for an initial appearance as to these charges.

Dollar Amounts: $250,000 fine upon conviction, to be followed by three years of supervised release.

Source: https://www.justice.gov/usao-mdga/pr/ponzi-scheme-indicted