DeKalb County police have charged a man with operating a real estate Ponzi scheme that bilked at least 30 victims out of some $5 million.
Police say Anthony Ray, working under the name of Key Funding Group, operated offices in DeKalb, Fulton, Gwinnett and Lamar Counties and in the cities of Milner, Griffin and Alpharetta.
Ray allegedly advertised that Key Funding Group offered services such as accounts receivable and loans for farms, churches, commercial real estate, commercial real estate and yachts.
He is being held in the DeKalb County Jail on a $980,000 bond on charges of operating a Ponzi scheme, financial identity fraud, theft by deception and mortgage fraud.
The police believe there are more victims they have not identified and ask that anyone with more information call 770-724-7711.
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