Multi-Million Dollar Trucking Ponzi Scheme Exposed

Multi-Million Dollar Trucking Ponzi Scheme Exposed

The owner of a small trucking company has been charged in connection with a multi-million dollar scheme to defraud investors over several years.

Arsen Lusher, 49, from New Jersey, was arrested on October 25, facing charges of wire fraud and aggravated identity theft, according to the U.S. Attorney’s Office for the Southern District of New York.

From 2017 to 2021, Lusher allegedly defrauded more than 20 investors out of over $5 million. “For years, the defendant solicited funds by falsely claiming he operated a highly profitable trucking business.

In reality, he was running a classic Ponzi scheme, enriching himself while leaving victims with significant losses. Today’s arrest highlights how fraud and deceit inevitably lead to failure,” stated U.S. Attorney Damian Williams.

Officials claim that Lusher, along with a group of associates, misled investors into believing that he managed a successful trucking company that transported goods for major retailers.

Investors were promised substantial returns—typically between 30% and 40% over one or two years—if they funded the purchase of trucks for around $45,000 each. However, Lusher reportedly raised over $40 million through this deception.