Strange: Amish Business Man Charged With Fraud Against Amish

I have known and studied the Amish for many years and this case makes me scratch my ever balding head.
From the Budget, an Amish newspaper: Last Wednesday, Federal officials filed mail fraud charges against Monroe L. Beachy in relation to alleged false statements Beachy issued and then sent through the United States Postal Service to investors.
Upon filing the charges in the United States District Court a press conference was scheduled and held in Cleveland with Steven M. Dettelbach from the U.S. Attorney for the Northern District of Ohio as well as Stephen D. Anthony who serves as the special guest agent in charge of the Cleveland branch of the Federal Bureau of Investigation.
Dettelbach explained that Beachy, age 77, of Sugarcreek stands accused of operating a ponzi scheme that impacted the Amish and Mennonite community as well as businesses in the area. When all claims are examined, the scheme took money from 2,698 people in nearly 30 states of millions upon millions of dollars. When Beachy closed his doors for good in June 2010, the balance sheet said there should be over $33 million on hand; however, just $17 million was accounted for. During preliminary bankruptcy proceedings, Beachy said that he lost money due to bad investments and was working to bring accounts back up but hadn’t been able to do so....
As of press time, Beachy had not been taken into custody as authorities indicated that they would wait for Beachy to turn himself him. However, during a brief conversation with Beachy last Friday, he indicated that he was unaware of the charges or the case. It should be noted that currently, Beachy does not have legal representation of any kind. No date for a hearing on the charge has been set according to court records.
Dettelbach called the situation unfortunate. “The Beachy case is one of these affinity scams that unfortunately reminds us that, even in the Heartland, if it sounds too good to be true, it is,” he said. “[It is an example] of a scheme that plays upon goodwill and previous relationships and therefore, sometimes affect a particular community more than the general public.”
The charges have no impact upon the bankruptcy case of Beachy that is currently pending in the United States Northern District of Ohio Bankruptcy Court. Currently, Anne Piero Silagy has been authorized by the court to sell some of the land Beachy holds in trust with his wife. Half of the proceeds of such a sale would be used by the bankruptcy court to help bridge some of the gap between what creditors are owed and the money that has been collected to date. In all, more than 17 acres in Holmes County will be offered up for sale through the court system. No details of the auction have been released as of press time.Monroe L. Beachy was sole proprietor of A&M Investments when the Sugarcreek firm closed in June 2010 after a sign was placed on the door that indicated it was “closed for investigation.” He filed for bankruptcy protection just hours later. Through the court system all assets have been liquidated as accessed. A secondary case investigating how much money was invested by the Amish Helping Fund into A & M Investments and likewise by A & M Investments by the Amish Helping Fund is ongoing with the period for discovery set to end on October 31, 2011. Beachy served as the treasurer of the Amish Helping Fund until June 2010.The charges have no impact upon the bankruptcy case of Beachy that is currently pending in the United States Northern District of Ohio Bankruptcy Court. Currently, Anne Piero Silagy has been authorized by the court to sell some of the land Beachy holds in trust with his wife. Half of the proceeds of such a sale would be used by the bankruptcy court to help bridge some of the gap between what creditors are owed and the money that has been collected to date. In all, more than 17 acres in Holmes County will be offered up for sale through the court system. No details of the auction have been released as of press time. http://www.thebudgetnewspaper.com/localnews.html
The first thing that stuck me, is that the Amish are against gambling and they do not invest money in the stock market or other investments. So, why would they invest in a scheme like this? Greed by the Amish? That's almost as unheard of as President Obama telling the truth.
The other thing that will be interesting is if any Amish testify against Beachy. The Amish are the forgiving type, even those who have had been victims of violent attacks.
For instance, when some Amish children were shot and killed in an Amish school house a few years ago, the Amish not only forgave the thug that killed the children, they also made sure the widow of the thug was taken care of and the Amish were the ones who comforted her and made sure her needs were met. In addition, they made sure that any money brought in because of the tragedy was shared with the widow.
So, this will be an interesting case as it may pit Amish vs Amish. I hope it doesn't turn the communities and families against each other. It will an interesting case to watch.