William and Cheryl Chaucer Plead Guilty to Securities Fraud


On January 19, 2011, William and Cheryl Chaucer both pled guilty to 20 counts of making false representations in the sale of a security, one count of selling an unregistered security, and one count of acting as an unregistered investment adviser. Based on a joint investigation conducted by the Office of Financial Institutions and the Louisiana Attorney General's Office, the Chaucers were originally charged in November 2009, and were prosecuted by the Tangipahoa Parish District Attorney. William Chaucer was the principal of Chaucer Holding Company and owned several finance companies in Hammond, Covington, and Ponchatoula. Chaucer sold debentures to approximately 200 individuals totaling over $11 million, promising high rates of return. Investors were told that their money would be used to fund the finance company operations. Based on their guilty pleas, the Chaucers admitted to misappropriating funds for personal use and paying investor returns out of debenture investments, indicative of a Ponzi scheme. William Chaucer was sentenced to 8 years in state prison. Cheryl Chaucer must spend one year under house incarceration and serve 5 years of active probation.


William Chaucer Arrested for Alleged Ponzi Scheme


Based on a joint investigation conducted by the Office of Financial Institutions and the Louisiana Attorney Generalís Office, William Chaucer of Ponchatoula was arrested November 19, 2009, and charged with 20 counts each of felony theft, sale of unregistered securities, and making material misrepresentations in the sale of securities. Chaucer will be prosecuted by the Tangipahoa Parish District Attorney. Chaucer was the principal of Chaucer Holding Company and owned several finance companies in Hammond, Covington, and Ponchatoula. Chaucer sold debentures to approximately 200 individuals totaling over $11 million, promising high rates of return. Investors were told that their money would be used to fund the finance company operations. Instead, Chaucer allegedly misappropriated funds for personal use and paid investor returns out of debenture investments, indicative of a Ponzi scheme.


Updated August 24, 2017