FELONY THEFTS – ILLEGAL PYRAMID SCHEME

FELONY THEFTS – ILLEGAL PYRAMID SCHEME
JOHN MICHAEL THIBODEAUX

NAPOLEONVILLE – Assumption Parish Sheriff Leland Falcon reports the arrest of John Michael Thibodeaux, 44, of 6706 Highway 308, Belle Rose, LA, on felony theft charges arising from a financial crimes’ investigation.

On December 5, 2023, Sheriff’s detectives initiated an investigation relative to a theft complaint which resulted in the discovery of a pyramid scheme.

Detectives determined that the suspect, now identified as John Michael Thibodeaux, collected significant amounts of money from potential victims alleging that he would invest their funds into the stock market and promising high returns on their investments. Victims became suspicious when dividend payments either stopped or never started, leading them to request financial ledgers or related transaction documents from John Michael Thibodeaux. The suspect was unable to provide related, supporting documents resulting in the victims’ reporting the fraud to law enforcement.

Detectives investigating the case determined that John Michael Thibodeaux never invested any of the funds in financial markets as he claimed.

At the conclusion of the investigation, detectives filed for and were granted an arrest warrant charging John Michael Thibodeaux in connection with the scheme.

John Michael Thibodeaux was arrested Friday morning and was booked into the Assumption Parish Detention Center on charges of:

*Theft – $5,000 to $25,000
*Promoting Pyramid Promotional Scheme Unlawful

John Michael Thibodeaux remains incarcerated pending a bond hearing.

For additional information concerning this News Release, contact Sheriff Leland Falcon or Public Information Officer, Lonny Cavalier at (985) 498-9353 or (985) 369-7281.