Ponchatoula businessman accused of bilking investors - WDAM-TV 7-News, Weather, Sports-Hattiesburg, MS

Ponchatoula businessman accused of bilking investors of more than $11 million

AMITE, La. (AP) - Cheryl Chaucer, wife of a Ponchatoula businessman accused of bilking investors of more than $11 million, has pleaded not guilty in state district court in Amite.

The 63-year-old Chaucer faces one count of engaging in the sale of an unregistered security, one count of acting as an unregistered investment adviser and 20 counts of making material misstatements in the sale or sales of securities.

Her husband, 61-year-old William Chaucer, pleaded not guilty to the same charges in February.

William Chaucer ran several investment firms for more than two decades.

State authorities have said Chaucer used money invested in his loan companies to pay for more than $400,000 in Mardi Gras expenses, $5,500 worth of cosmetic surgery and thousands more for his wife to compete in pageants.

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Information from: The Advocate, http://www.2theadvocate.com

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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