Oceansider accused of running Ponzi scheme

Oceanside resident Laurie Schneider was arrested by the FBI on Tuesday, April 13, on charges she was running a Ponzi scheme.

According to a complaint filed by Special Agent Matt Galioto with the U.S. District Court in Central Islip, Schneider may have defrauded investors out of more than $9 million between 2006 and 2009.

Schneider was the owner of many different companies, including Ultimate Sax and Sound Entertainment Corporation, All-Clean Janitorial Supplies, Eager Beaver Realty and Janitorial Close-Out City, and she allegedly used those businesses to vet investors. Claims were first brought against her by some of her investors who filed an involuntary bankruptcy petition against Janitorial Close-Out City in 2009.

According to the federal complaint filed April 13, Schneider allegedly lured many of her victims by telling them she had a contact "who had strong relationships with companies in China that manufactured industrial and manufacturing equipment."

Schneider allegedly told investors that she could purchase the equipment, then resell it in the U.S. for higher prices. She also told investors they would receive between 30 and 70 percent profits on their investments within 18 months, according to the complaint.

She was arraigned on Tuesday in U.S. District Court in Islip where she pleaded not guilty. She was released on $1.5 million bail.