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Las Vegas high roller faces Ponzi scheme charge
by Tribune Staff
Jul 02, 2012 | 1601 views | 0 0 comments | 6 6 recommendations | email to a friend | print

LAS VEGAS (AP) — A high-rolling businessman who sells luxury gifts to casinos has been charged with running a Ponzi scheme.

The Las Vegas Review-Journal reports Ramon DeSage was arrested in Las Vegas amid accusations he used Cadeau Express and some of his other companies to defraud investors.

A complaint filed last week by the Internal Revenue Service claims he owes investors more than $75 million.

The complaint paints DeSage as a “prodigious gambler” who’s lost more than $20 million on the Strip since 2006.

His Las Vegas lawyer, Richard Wright, denied DeSage was involved in a Ponzi scheme and argued his client wouldn’t flee to Lebanon, where he also has citizenship.

U.S. Magistrate Judge Peggy Leen released him from custody at a Friday hearing, but said he must be electronically monitored.
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