Alleged $26M Ponzi scheme targeted 700 victims

Oxnard, CA - OXNARD, CA (AP) - Two Oxnard residents and a Myrtle Beach man have been arrested on charges of operating a $26 million Ponzi scheme that victimized hundreds of investors nationwide.

Federal prosecutors said Monday that Nancy Khalial and Alan Flesher of Oxnard and Wayne Flesher of Myrtle Beach, were arrested by FBI agents last week.

According to a federal grand jury indictment returned on August 4, the defendants asked about 700 victims to invest in "ad toppers," or advertising monitors on gas pumps, vending machines and ATMs.

The defendants are accused of spending most of the investors' money on personal expenses.

Khalial and Alan Flesher surrendered to authorities and were released on bond. Wayne Flesher remains in custody.

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