Texas authorities arrested a man Wednesday for his involvement in a potential Ponzi Scheme. Robbie Dale Walker, 53, was charged with "Theft Over $200,000" and released on $10,000 bail. The charge carries a potential jail sentence of 5-99 years and up to a $10,000 fine.
Walker was arrested after an investigation aided by the United States Secret Service into Walker's solicitation of investors for his company, RD Walker Resources, Inc. According to Walker, the firm was a gas and oil exploration company. Walker apparently targeted elderly investors, who were promised annual interest payments in return for funds to assist in "development" of potential ventures. Authorities believe that additional victims may exist that have not yet been identified.