Mobley's Maricopa Ponzi Scheme
This Agency's Report to the SEC
By: Bill E. Branscum
Copyright: February 2000

"You can't con an honest man." How many times have we heard that? Aside from being one of the single, most ridiculous statements that I ever heard in my life, it is irresponsible because it serves to give the honest man a false sense of security. If you propose to investigate financial fraud cases, one of the first things you must get straight in your mind is that your clients need not be greedy, gullible, or dishonest to be victimized by a con artist. Merely having something they want is generally enough.

This morning, Naples, Florida enjoyed another beautiful day, but it was dismal and depressing day for our community. Many our friends, neighbors and family members arose to discover that the work product that was their life has been stolen, the future that they planned for is foreclosed, and the funds that they depended upon to ensure their independence through their elder years are embezzled, squandered and lost.

This morning, husbands and wives who have worked together, suffered together and fought through life's battles together, found themselves fighting with each other, arguing issues of fault. Children were victimized too as many who appeared to have a bright future lost it, having no idea what they lost, or how they came to lose it. These people are neither stupid, greedy, nor dishonest; they are victims whose faith and trust was terribly misplaced in David Michael Mobley, a charismatic con artist from Ohio with a history of "hustling church groups."

For those of you who may have had little experience investigating large-scale financial frauds, there is a tragic aftermath in these cases unlike any other case you are likely to pursue. Ours is a business where the end of wealth, lifestyle, love and even life itself is an everyday reality, but the damage is typically inadvertent, and narrowly focused. People like Mobley target entire communities; their assault is deliberate and calculated, and the damage is devastating.

The following is the report we provided to the SEC and other relevant documents.

I welcome your comments, questions and suggestions.

© Copyright 2002 - Bill E. Branscum. All Rights Reserved.