Two firms accused of bilking investors out of $1.5M

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Two local investment firms accused of bilking clients out of more than $1.5 million in total have had their assets frozen as they face civil lawsuits from the Indiana Secretary of State’s office.

The office’s securities division said on Tuesday that it secured a court order to freeze the assets of Plan America LLC in Indianapolis and Rykoworks Capital Group LLC in Brownsburg, both of which are accused of fraud and embezzlement.

Rudolf Pameijer and his daughter Lindsay Pameijer of Plan America and Ryan Koester of Rykoworks have been individually named in civil suits filed by the securities division. Neither the Pameijers nor Koester are licensed to provide investment advice or to sell securities in Indiana, the securities division said.

Johnson County Judge Kevin Barton issued a permanent order Feb. 16 to freeze the assets of the firms.

The securities division accuses the owners of soliciting funds from Johnson County investors with the promise to invest in foreign currency trading opportunities.

However, they allegedly used funds to pay for home remodeling and wedding expenses, in addition to buying cars, the securities division said. Indicative of a traditional Ponzi scheme, earlier investors received new investor funds—not actual profits, according to the complaints.

Plan America and Rykoworks sold promissory notes to investors from 2008 through 2011, the securities division said.  


  • Keep Going
    While I commend prosecutors and the courts for going after these white collar criminals, I am still waiting for the indictments of crooked home loan brokers and the banks that tricked many first time home buyers and the elderly who refinanced their homes at the suggestion of Alan Greenspan. Going after three people for $1.5 Million seems large on the surface, however many home loan borrowers were tricked into signing loan documents with highly inflated refinance requirements, which ultimately became part of the bubble that forced President Bush to announce the failure of the banking system on Wall Street back in September of 2008. Where are those indictments?

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