Maryland man indicted on racketeering charges in Delaware

SUSSEX COUNTY, Del. - The Delaware Department of Justice says a Maryland man has been indicted in Sussex County on racketeering and securities fraud charges following a year-long investigation into an alleged Ponzi scheme.

Matthew A. Krimm, 35, of Abingdon, is accused of soliciting and selling investments in a company he falsely claimed owned and operated a mortgage origination business. Krimm reportedly instead repaid early investors with funds gained from later investors.

Krimm additionally faces charges on felony theft, securities fraud and selling unregistered securities, officials said. The federal Securities and Exchange Commission has also filed suit against Krimm, accusing him of civil violations of federal anti-fraud and securities registration laws.

The Department of Justice Investor Protection Unit says Deputy Attorney General William Green and Special Investigator Lester Johnson are handling the case.

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