Man scams Amish communities in $60M Ponzi scheme


PHILADELPHIA, Penn. (WFMZ/CNN) – The owner of a Pennsylvania dairy creamery is accused of defrauding tens of millions of dollars from the Amish and Mennonite communities.

Police say, 68-year-old Philip Riehl is being charged with conspiracy, security fraud and wire fraud.

His creamery, Trickling Springs Creamery, closed in September and filed for bankruptcy in December.

Riehl diverted nearly $60 million in investments to the business.

He’s accused of defrauding between 300 to 400 people, many were members of the Mennonite and Amish communities who wanted a safe and secure investment.

“I think there are a lot of people who are feeling the pain. There are a lot of people who are hurting because of this,” said William McSwain.

If convicted, Riehl faces up to 45 years in prison.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Donate Today