Beverly DeRonde, age 61, of Pella was sentenced today to 48 months in prison for a mail fraud scheme involving over $680,000. The District Court of Iowa also sentenced DeRonde to pay restitution to her victims, and ordered her to serve a three year period of supervised release after imprisonment.
According to the court, DeRonde operated a Ponzi scheme between 2003 and 2010 involving over 70 individuals. She would solicit loans from her victims, claiming she needed the money to buy her husband a birthday or anniversary present, or to help him start a business. She also promised huge amounts of interest in return.
The case was investigated by the U.S. Postal Inspection Service.