In the middle and late 1990s, J.W. Zidar was
working in odd jobs trying to make a living, being a car salesman
for a time and later, a restaurant
janitor.
But, he also had been involved in several shady “investment
programs”, commonly known as Ponzis. In the late ‘90s, he created
his own “investment programs”, which he named Vista International,
Oakleaf International and Rosewood International. To market his
“investments”, Zidar retained a multi-level marketing “pro”, John
Matthews, who at the time was living out of his car.
Matthews operated a phone bank or “boiler-room” where potential
investors were called and persuaded to invest because of the
phenomenal return of
120
% ROI. People were encouraged to mortgage their homes and
charge their credit cards to the limit to get into these
investments. Commissions were paid to those who convinced others
to join these programs, and commissions ranged from
20%
to 40%.
Zidar targeted lots of investors who
disliked
big government, were opponents of the Fed, etc, and he
employed those who had an influence on such people, like
Shawn
Rice. His Ponzi scheme raised about 75 million bux.
He got
indicted, was
tried
and
convicted,
and
sentenced
to 30 years.
