- Report: #580393
Complaint Review: Kevin Halverson and Doug Jessup - Internet
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Kevin Halverson and Doug Jessup
980 Internet, United States of America
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Kevin Halverson and Doug Jessup, Linda Halverson Ponzi Scheme, Fraud, Internet
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SEATTLE -- Long before Bernie Madoff, local investors complained to KIRO 7 about an alleged Northwest Ponzi scheme.
Doug Jessup and Kevin Halverson!
Today, the man who they say took millions of dollars from them is behind bars.
Kevin A. Halverson appeared in US District Court in Seattle on Monday, indicted on 4 counts of wire fraud and 5 counts of money laundering. Doug Jessup his partner in crime is still on the run. The FBI is after Jessup and will be catching up with him. Jessup has been committing fraud most of his life and has stolen money from countless people. Starting with Religious Schemes to Ponzi Schemes.
According to eight people who sat down with KIRO 7 Consumer Investigators three years ago, Halverson and Jessup asked them to invest money in his ticket-business, called Total Ticket Services, or TTS of Bothell.
They say they gave Jessup and Halverson cash.
According to the indictment, Halverson collected more than $10 million in all.
One man, who did not want to be identified, told Clancy in 2007 that he was out $1, 000, 000 of his own money; $1, 500, 000 that he had invested on behalf of family and friends.
Others told Clancy they lost between a few thousand dollars and $100, 000.
All of the so-called investors claim Halverson told them he would buy high-priced event tickets, then sell those tickets at a higher cost, and share the profits. But they say, instead of getting a return on their money, Halverson and their money disappeared.
Another man who claims he lost $10, 000, told Clancy that Halverson made each investor feel as if he or she would be paid right away, but there were 30-to-40 other people that he owed money to. Not just us.
Since Clancy conducted the interview with the eight investors three years ago, sources tell KIRO 7 the Internal Revenue Service opened a federal investigation and are now after Doug Jessup.
On Friday, Halverson was arrested in Bothell. He's been behind bars ever since.
For another man, who claims he lost $550, 000 and the relationships with family members over his side-ways investment, Halversons arrest is a relief.
I guess it makes everybody happy, he told Clancy outside the Federal Courthouse in downtown Seattle on Monday afternoon. I dont know if its going to be closure or not, because everybodys still out a lot of money.
If Halverson is found guilty, he could face many decades behind bars.
A trial date has been set for May.
Doug Jessup still a free man as of today. He will be brought to justice as well.
