Ponzi Scammer Faces CA Charges in Printing Ruse

SANTA ANA, CA—A Minnesota man convicted of running a Ponzi scheme based around a phony commercial printing company that bilked investors in eight states out of more than $150 million now must face the music in California.

Gerard Cellette, 48, was extradited to The Golden State on Wednesday to face arraignment on 116 felony counts, United Press International (UPI) reported. The Orange County District Attorney's office said that Cellette allegedly victimized 55 investors out of $21 million in that county alone between 2005 and 2009. It is the largest Ponzi scheme in Orange County history.