June 29, 2026
The Rolla Daily News/Imagn Images
State prosecutors say Richard L. McNeil roped dozens of victims into his Ponzi scheme, defrauding them of $3.8 million.
A Montgomery County man convinced dozens of people to sink over $3.8 million into investment opportunities that were really a Ponzi scheme, prosecutors say.
State police filed charges against Richard L. McNeil on Friday. The 59-year-old Norristown resident allegedly solicited money from victims by offering profitable investments that would generate consistent returns. He promised them monthly interest payments, officials say, and a full return of their initial investments.
Though some early investors received payouts, many more lost substantial sums. According to the state investigation, several victims invested over $200,000 in the scheme and 50 investors are still owed over $1.8 million.
"This defendant duped dozens of people into investing substantial funds — victims who believed they were to see monthly gains, but instead were left with depleted bank accounts and unanswered pleas for their money," Pennsylvania Attorney General Dave Sunday said in a statement. "Investment fraud is obviously devastating to victims, and we will work hard to recover restitution as part of this prosecution."
McNeil turned himself into police Monday. He is charged with felony theft by deception and related crimes.
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