Atlanta: Investment broker and attorney charged over two alleged Ponzi schemes

By Erick León

Roosevelt Tobias Bailey, of Duluth, and Alvin Jones, an attorney and former prosecutor, were charged, arrested and brought before a federal court over two alleged multimillion-dollar Ponzi schemes lasting several years. Prosecutors announced the case on October 20.

According to the indictment, investors were promised high returns and protection of their investments in trust accounts managed by the attorney. Funds were allegedly diverted instead of used as promised. The allegations must be proved and do not constitute a conviction of either man.

Source: U.S. Department of Justice: Investment Broker and Attorney Charged with Running Multiple Ponzi Schemes. Statement dated October 20, 2026.

Original Spanish article, published October 25, 2026.

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