A Towson man is one of three people indicted in what officials say was a large fraud scheme that spanned the country.

By Elizabeth Janney, Patch Staff  | Updated 

BALTIMORE, MD — A Towson resident is among three men indicted in an alleged Ponzi scheme that officials say defrauded investors out of $364 million. The other two charged in the case were from Texas and Nevada.

Kevin B. Merrill, 53, of Towson, was indicted on charges of conspiracy, wire fraud, identity theft and money laundering in connection with an alleged investment fraud scheme in which he and two other men pretended to be selling consumer debt portfolios.

Merrill along with Jay B. Ledford, 54, of Westlake, Texas, and Las Vegas, Nevada, and Cameron R. Jezierski, 28, of Fort Worth, Texas, pretended to be making money for their investors by collecting debt payments and selling the debts to debt buyers.