NorCal Attorney Accused Of Ponzi Scheme

July 9, 2011 5:50 PM

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SAN FRANCISCO (AP) — A former San Francisco attorney is facing charges that he defrauded investors of $7 million in a Ponzi scheme.

Seventy-two-year-old Robert Tunnell has been indicted by a federal grand jury on seven counts of mail fraud, 13 counts of wire fraud and one count of money laundering.

The indictment was handed down on Thursday.

Prosecutors say Tunnell, a graduate of Dartmouth College and Harvard Law School, held himself out as a conservative investor to friends and relatives, but actually took great risks with their money.

He allegedly lost $7 million of the $10 million he collected between 2006 until his arrest in June and used the rest to pay other investors and a personal debt. Prosecutors say he falsely told investors he was making money.

A call to his attorney on Saturday was not immediately returned.

Dan Brumley

THE ATTORNEYS ATTORNEY COULD NOT BE REACHED!!! GO FIGURE!!!
Lassie

I thought this was going to be a story about Eric Holder and Social Security.
Vincent Singh

I have given 200k Vincent Singh for investment and he finally applied for bankruptcy. My money is dead with other 300 people. Total of 26million dollars he is enjoying now with. With this he killed one of his creditors. When this person will be caught.
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