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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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

  2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

  3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

  4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

  5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?