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Old Folks Say Ponzi Scam Continues

DENVER (CN) - Three men bilked an elderly couple of $170,000 in a Ponzi scheme known as Annuit Coeptis and continue to bilk people in related real-estate Ponzi schemes that include "Innovator Mortgage," "The Equity Mill," "the Free Capitalist Project," and "FranklinSquires University," the couple claims in Denver County Court.

They say the scam is led by defendants C. Rick Koerber and Gabriel Joseph, of Springville, Utah, and Brandon Adams, also of Utah.

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