Pocono News Section

Victims Have Harsh Words for J.P.L. Owner

Victims Have Harsh Words for J.P.L. Owner - Friday, May 22, 2009 at 6:30PM EST

KINGSTON, LUZERNE COUNTY- People who say they were ripped off by a Luzerne County investment firm have some harsh words for its owner.
The I-Team broke the story about J. P.L. Financial in Kingston. Its owner admits to bilking his clients out of $600,000.

Sgt. Jeff Homza was risking his life defending his country in Iraq when James P. Lake was ripping him off here at home. "I trusted the guy he took me in the end, that's what hurts the most," said Homza.

J. P.L.'s mottos is emblazoned on the office window: “We Never Forget It’s Your Money.” But investigators say not only did he forget it was their money, he made the money his own, to the tune of $600,000.

Sgt. Homza lost $5,000. Some lost as much as $120,000. The clients we spoke to say lake played the part of a high roller, with expensive suits and fancy cars.

"A couple weeks after I sent him the check I was getting a little weary. I didn't see any paperwork on the investments, didn't get anything showing me where my money was," said Homza.

Lake faces 10 years in prison and a 1.2 million dollar fine. He must also pay restitution.