Pennsylvania Lawyer Charged in Ponzi Scheme Dies at 80

A prominent Pennsylvania lawyer whose final years were clouded by charges he swindled $6 million from investors in a Ponzi scheme has died. Anthony J. Lupas Jr. was 80 years old.

The Corcoran Funeral Home in Plains Township says Lupas died April 8 at a nursing home where he lived since a federal judge ruled last August that he was incompetent to stand trial.

Lupas served for decades as the solicitor to the Wilkes-Barre Area School District. His son, David, is a Luzerne County judge and was the county's district attorney.

Attorneys for Lupas' investors say he promised them annual tax-free returns of 7 percent but pocketed their money and enticed new investors to cover monthly interest payments.

About 50 victims are sharing $3.25 million from a state compensation fund.

Copyright AP - Associated Press
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