Former Financial Talker Indicted In Ponzi Scheme Case
July 21, 2011 at 5:02 AM (PT)
Charges have been filed against a financial talk show host whose program aired on the shortwave WORLDWIDE CHRISTIAN RADIO network, HUBBARD Talk (now Sports) KSTP-A/ST. PAUL-MINNEAPOLIS, and several other stations in what federal authorities call a Ponzi scheme. The MINNEAPOLIS STAR-TRIBUNE reports that PAT KILEY was one of three associates of convicted money manager TREVOR COOK to be indicted as part of the $194 million fraud that affected over 700 investors.
KILEY has said that when he said in sports on his "FOLLOW THE MONEY" show that he was a senior financial adviser to COOK, he was reading from a script and was not in reality a manager; he said he believed in COOK's investment program, but the grand jury charged him, along with JASON BO BECKMAN and GERALD DURAND, with conspiracy, mail fraud and money laundering counts.