TANGIPAHOA, La. -- Facing charges of swindling hundreds of investors for over $11 million, Cheryl Chaucer is now free on a $150,000 bond Thursday night, after turning herself in to the Tangipahoa Parish Jail.
Chaucer is charged with 22 counts, related to securities fraud, in what investigators call a Tangipahoa Parish Ponzi scheme.
The State Attorney General teamed with the Tangipahoa Parish District Attorney's Office back in November to announce the arrest of Bill Chaucer. Investigators said, Chaucer bilked 200 investors out of roughly $11 million.
"It became apparent to us that Cheryl was an officer in the company and obviously received a lot of the benefits from the money that was taken from investors," said Tangipahoa District Attorney Scott Perrilloux.
"They've charged her with dealing with securities that are unlicensed," Cheryl Chaucer's attorney, Ralph Capitelli answered. "She's not now, nor has she ever been an owner in the company. She doesn't profit from the company."
Capitelli said Cheryl Chaucer served as a consultant in her husband's investment company.
The Chaucer's current residence is at 1046 Bonnabel Blvd. in Metairie, a considerably smaller home than their previous home at 14099 Reyes Ln. near Ponchatoula. The Chaucer's extravagant lifestyle garnered a great deal of publicity at the time of Bill Chaucer's arrest.
Investigators said, the money the Chaucers spent wasn't in line with the money they earned.
"Extravagant parties. Mardi Gras expenses, numerous krewes in New Orleans," Perrilloux added. "High end furniture expenses. A lot of personal expenses is the bottom line. And not in line with what investors were told as to what was going to happen with their money."
Capitelli said publicity can distort things.
"Especially if the aspects of it are wrong, like the expenses and all of that," said Capitelli. "Most of that information is totally erroneous, but the problem with the situation right now is trying to filter through that and then just being able to show people objectively that Cheryl Chaucer hasn't done anything to even being arrested."
Cheryl Chaucer was the 2008 Miss Senior Louisiana.
Now, prosecutors say the Chaucers have few assets remaining.
"In the end, there's nothing," Perrilloux added, "and investors are left with nothing."
