SoCal Man Accused In $10 Million Scam

LOS ANGELES (CN) - Federal prosecutors accuse De Elroy Beeler Jr., of Santa Barbara and Tujunga, of bilking hundreds of people out of $10 million in a nationwide telemarketing scam, selling bogus "shares" of Bidbay.com and Auctiondiner.com. Beeler, already a securities felon, and three co-conspirators claimed that Ebay was acquiring Bidbay for $20 a share and that the former President Bush would be on its board of directors, prosecutors said.

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Email *

Submit