NEW ORLEANS -- Bill Chaucer walked out of jail free on bond at 2:30 p.m. Friday. Chaucer chose not to give answers to any questions asked of him.
Tangipahoa deputies arrested Chaucer at this home near Ponchatoula Thursday.
The State Attorney General and Tangipahoa District Attorney accuse Chaucer of stealing more than $11 million from more than 200 victims.
“Many of them lost a great deal of what they thought was there -- either their retirements or their savings, or their source of income to live on,” said Tangipahoa District Attorney Scott Perrilloux.
In all, Chaucer is charged with 80 felony counts including 20 counts of felony theft. All together, they could add up to more than 500 years in prison.
Perrilloux wouldn't say if charges will be brought against his wife Cheryl Chaucer.
The attorney general said much of the stolen money was spent on cosmetic surgery and jewelry for Mrs. Chaucer and on elaborate parties.
Before turning into a Ponzi scheme, investigators said Chaucer's investment company operated legally for years.
More charges are expected to come.
Brittney Reese contributed to this story.
