ATLANTA — Two men are facing federal charges after being accused of running multiple Ponzi schemes that involved nearly $2 million in investor funds, according to federal prosecutors.
According to the U.S. Attorney’s Office for the Northern District of Georgia, Roosevelt Tobias “Toby” Bailey, 70, of Duluth, Georgia, and Alvin Jones, 58, of Tampa, Florida, were charged in an indictment that was returned Sept. 22. Jones was arrested and arraigned Tuesday.
Bailey was arrested and arraigned Oct. 16, officials said…