Rock Hill man charged in Ponzi Scheme
ROCK HILL, S.C. -- A Rock Hill insurance agent is accused of a Ponzi scheme, swindling millions from unsuspecting investors.
His daughter, who asked not to reveal her name, tells NewsChannel 36 it's all just a miscommunication.
Her parents' $400,000 Rock Hill home is up for sale, their things in boxes.
Oren Sullivan's daughter says the charges he faces are a mistake.
"I know his character, I know it's a miscommunication, and there is no doubting on our parts that dad didn't do anything he wasn't supposed to," she says.
The feds, though, charged him in a Ponzi scheme.
Sullivan's longtime neighbor was shocked to hear the news.
"God, it's one of ours -- that's the most appalling thing to find out. Bernie Madoff lives in our neighborhood, or the equivalent," says Ronald Sinclair, who lives in the neighborhood.
Sullivan faces seven counts, including stealing more than $2.5 million from more than 35 investors over the last 14 years while he worked as a life insurance agent for New York Life insurance office.
The office is just a half-mile from his house.
His daughter told us, "It was a complete surprise yesterday when my dad found out about it. He didn't know he was being investigated."
But records show Sullivan's insurance license was taken in March and the company he worked for sued him for millions, trying to get his alleged victims back some money.
NewsChannel 36 has learned those people have their money back. The company is now trying to get its money back.
"It's kind of sad. You put your trust in people you think you know are being honorable, have the same beliefs that you have and are going to take care of your money, hopefully in a better way than you do yourself, and then you find out you've been betrayed," says Sinclair.
Still, Sullivan's daughter, who insists her father did nothing wrong, says, "I think it will all work itself out."
His daughter, who asked not to reveal her name, tells NewsChannel 36 it's all just a miscommunication.
Her parents' $400,000 Rock Hill home is up for sale, their things in boxes.
Oren Sullivan's daughter says the charges he faces are a mistake.
"I know his character, I know it's a miscommunication, and there is no doubting on our parts that dad didn't do anything he wasn't supposed to," she says.
The feds, though, charged him in a Ponzi scheme.
Sullivan's longtime neighbor was shocked to hear the news.
"God, it's one of ours -- that's the most appalling thing to find out. Bernie Madoff lives in our neighborhood, or the equivalent," says Ronald Sinclair, who lives in the neighborhood.
Sullivan faces seven counts, including stealing more than $2.5 million from more than 35 investors over the last 14 years while he worked as a life insurance agent for New York Life insurance office.
The office is just a half-mile from his house.
His daughter told us, "It was a complete surprise yesterday when my dad found out about it. He didn't know he was being investigated."
But records show Sullivan's insurance license was taken in March and the company he worked for sued him for millions, trying to get his alleged victims back some money.
NewsChannel 36 has learned those people have their money back. The company is now trying to get its money back.
"It's kind of sad. You put your trust in people you think you know are being honorable, have the same beliefs that you have and are going to take care of your money, hopefully in a better way than you do yourself, and then you find out you've been betrayed," says Sinclair.
Still, Sullivan's daughter, who insists her father did nothing wrong, says, "I think it will all work itself out."
