zeekrewardsTurns out Ponzi schemes don’t pay.

Well, at least not for Robert Craddock.

Last month saw Robert Craddock of Zeek Rewards Ponzi fame indicted for wire fraud.

Craddock stands accused of falsely claiming $135,153 in damages from BP. The claim was for damages as a result of the Deepwater Horizon oil rig explosion back in 2010.

Craddock’s arraignment took place as scheduled on March 26th. During the hearing, Craddock plead not guilty and advised the court that his “current financial status” prohibited him from hiring an attorney.

The court ordered Craddock be assigned a federal public defender (taxpayer-funded attorney).

Due to Craddock’s plea of not guilty, the case will now progress towards a trial.

A scheduling order made during the arraignment has set a status conference for April 13th, with a trial scheduled to begin on May 4th.

If convicted, Craddock faces a maximum 20 years in prison. At 54 years of age, this would effectively see him spend the rest of his days behind bars.

Stay tuned…


Footnote: Our thanks to Don@ASDUpdates for providing an update of the Craddock case court docket and related documents.