Wakefield Man Facing up to 20 Years in Jail for Alleged Ponzi Scheme

A Wakefield man is facing up to 20 years in jail after an indictment by the U.S. Department of Justice for allegedly defrauding about 150 people out of more than $350k in a fake fee-collecting scheme.

Federal investigators say that Jamon Caswell, 33, of Wakefield, Lawrence Amirto, 58, of Boca Raton, Fla., and William Totaro, 60, of Pompano Beach, Fla., were indicted on charges of conspiracy and mail fraud related to an advanced fee scheme for a non-existant credit repair service. 

The men are alleged to have created an entity called Premier Service Group, Inc. (PSG), of 15 New England Executive Park, Burlington, MA which claimed to provide credit repair services to consumers. PSG adertised in publications throughout the U.S. that independent affiliates could purchase geographic territories and would receive leads from PSG for potential credit repair clients in those areas, prosecutors say.

The clients were instructed to contact the provided leads, sign them up as clients of PSG, and earn commissions. However, newly-recruited affiliantes were allegedly told to recruit more affiliates. The funds collected from the new affiliates were then used to make payments to the other affiliates, for expenses associated with the scheme, or for the personal expesnses of Caswell, Amirto and Totaro, prosecuters say.

If convicted, each man faces up to 20 years in prision, to be followed by three years of supervised release and a $250,000 fine. 

The case is being prosecuted by Assistant U.S. Attorney Kristina E. Barclay of U.S. State Attorney Carmen Ortiz's economic crimes unit.