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Rod Rieman
Rod Rieman and Michael Crook Roderick Rieman, Rod Rieman, Rieman, Crook, Michael Crook, Z Touch Systems, Z Touch, Global Payment Solutions, GPS, Bluko
15th of Apr, 2011 by User770878
Investment Con Artist, Roderick James Rieman was indicted on mail fraud charges in connection with defrauding more than 100 investors of more than $5 million in a Ponzi-type scheme, federal prosecutors say. Roderick Rieman, 66, of Geneva, and a partner, Michael Crook, 52, of Los Angeles, were indicted April 6, 2011 of 10 counts each of mail fraud by a federal grand jury. If convicted, each count of mail fraud carries a maximum penalty of 20 years in prison, a $250,000 fine and mandatory restitution. The U.S. Attorneys Office for the Northern District of Illinois said the two created four companies between 2004 and 2007, took money for investing in them, overstated and misrepresented their value and return, then used money from new investors to pay older ones, according to the indictment. Rieman said he was was a director of Z Touch Systems Inc., Global Payment Solutions Inc., Bluko Information Inc., and Smart Restaurant Solutions Inc., all based in Las Vegas. The companies were supposed to create interactive kiosks, software for making restaurant reservations and pre-paid debit cards. For example, for Z Touch, the interactive kiosk was called ODIEs, On Demand Interactive Environments, according to the indictment. Rieman misled prospective investors and investors by telling them such things as: Bluko and Z Touch had contracts with the U.S. military and with Habitat for Humanity, according to the indictment. Morgan Stanley was going to take Bluko to the promised land and the U.S. had purchased a large number of ODIEs for use by soldiers. Filed in the U.S.District Court, Northern Illinois is case # If you are a victim, contact: Info on U.S. Atty handling case 11CR0269 Edward G. Kohler
United States Attorney's Office (NDIL)
219 South Dearborn Street
Suite 500
Chicago, IL 60604
(312) 353-5300 Rieman and his son Brian, through his Innovative Financial Services, Inc company, bilked 100s of victims (mostly retired senior citizens) out of their retirement funds and equity in their properties, to buy into 2 Ponzi schemes: Resort Holdings / Universal Lease in Cancun, Mexico. Amount of Ponzi - $550 Million. Michael E. Kelly, creator of this Ponzi, has been sitting in a Federal jail for 4 years while awaiting trial. He is trying to sell his properties to make restitution to his 9000 victims. Ad Toppers, Douglas Network, Unlimited Cash of Los Angeles, CA. Amount of Ponzi - $26 Million Nancy Carol Khalial, creator of this Ponzi, is out of jail on $50,000 bail waiting for her trial to start. There are approximately 700 victims in this Ponzi. Many of Rieman's investors were members of the Community Christian Church in Naperville where Rieman attended. Rieman now attends Riverside Community Church, 37W130 Crane Road, St., Charles, Il.
Comments
3280 days ago by Gamidon
I am one of the victims and get updates from Department of Justice. The sentencing keeps getting delayed. The latest was delayed from December to February.

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