Monday, May 7, 2012

Mini Madoffs, Nelson Grant Hallahan and Janet Hallahan Captured

Sooner or later the running had to end.  Everyone gets caught and after 12 years, it was more than time to pay the piper.  Acting on a tip, U.S. marshals in Arizona caught Nelson Grant Hallahan, 65, and Janet Hallahan, 54, the Illinois couple who for 12 years have evaded punishment for running a Ponzi scheme that targeted friends, the elderly, and even family members.  The fugitives, Nelson and Janet lived in several states in the Southwest and had used a number of aliases.  The two were arrested by deputy marshals Saturday afternoon in Tonopah, Arizona. 

The Hallahans were also known as the `Mini Madoffs.' According to authorities, their investment scams involving family, friends, and the elderly, ruined many lives. Apparently the agency received a tip about their location after they were featured on "America's Most Wanted."  The couple had plead guilty in Illinois federal court to bank and mail fraud, conspiracy charges, and money laundering; however, they never showed up for their sentencing.

Apparently the Hallahnas had operated a Ponzi scheme, repaying earlier investors with proceeds from new investors.  They also apparently defrauded investors by selling interests in a tanning salon they later sold without telling investors.  The couple allegedly netted millions of dollars from victims. Nelson Hallahan was at one time a successful life insurance salesman. Janet Hallahan was his assistant.  The couple had been married since 1988. However, somewhere down the road things all went wrong. The Hallahans owed nearly $1.2 million to investors at the time they disappeared. The Hallahans were living apart at separate homes at the time of their arrest.


Anonymous said...

Rabbits on the run usually get caught. But after 12 years, they must have been prety good at hide and seek.

~Jay said...

Cheaters never profit... but they had a hell of "a loan" for twelve years!

Anonymous said...

These folks deserve some quality timeout in jail!

Anonymous said...

They apparently absconded a lot of cash and broke their victims dreams of financial security.

Video Guy said...

An insurance salesman ripping people off…I’m not surprised.
So what about the “Statue of Limitations” on this one?
I thought that after 7 years one pretty much gets away with crimes like this one??

Anonymous said...

They fled post conviction.