Amish gone bad: Monroe Beachy
Meet Monroe Beachy, the 76-year-old investment banker who bilked 2,700 clients out of nearly $17 million over the course two decades. Included among Beachy's victims was the Amish Helping Fund, a nonprofit real estate lending organization dedicated to preserving the Amish way of life, of which Beachy was treasurer.
Investors—most of whom were Amish or Mennonite—didn't even wise up to the Ponzi scheme when their monthly statements arrived in Beachy's own handwriting. In June 2012, a judge sentenced Beachy to six-and-a-half years in prison, followed by a year of probation. His request to serve out the sentence under house arrest was quickly rejected.