Injunction and Industry Bar for Investment Fraud Targeting Amish

From as early as 1986 through June 2010, defendant Beachy, doing business as A&M Investments, allegedly raised at least $33 million from more than 2,600 (primarily Amish) investors through the offer and sale of investment contracts. Investors were lured by the promise of greater interest rates than banks were offering at the time, told that their money would be used to purchase risk-free U.S. government securities to generate returns. However, defendant allegedly Beachy used the money to make speculative investments in high yield (junk) bonds, mutual funds, and stocks, losing approximately $15 million.