John C. Boschert of Apopka, Florida pleaded guilty yesterday to fraud for his role in a Ponzi scheme operated out of Clermont, Florida under the name Assured Capital Consultants. Boschert agreed to pay $11.6 million to victims in restitution and is looking at a maximum sentence of twenty years imprisonment. Though his plea will likely result in a reduced sentence.

Boschert, Jennifer E. Hoffman of Clermont, and Bryan Zuzga of Michigan are alleged to have operated a fraudulent investment scheme with around 100 victims dating back to 2009. The group promised investors that their funds would be used as collateral to make investments, but according to authorities the money was never used for that purpose. Rather, earlier investors were paid from money invested by newer investors, the defining element of a Ponzi scheme. Hoffman and Zuzga are believed to have purchased homes with the funds they received. The two are currently awaiting trial, which will begin in December.

If you or someone you know has lost money as a result of an investment or Ponzi scheme, please contact Richard Frankowski at 888-741-7503 to discuss your potential legal remedies or complete the contact form.