Safe Money Radio Annuity Scam 20 Sep 13

The former host of “Safe Money Radio” and previous owner of Redwood Valley Interest in Redwood Falls has been indicted on 4 counts of wire fraud and 2 counts of mail fraud in federal court in connection with a scam that swindled nearly $2-million out of investors. 49-year-old Jeffrey Charles Rodd allegedly used the radio program to gain customer’s trust and maintain a client base to solicit for his fraudulent annuity purchase program. Rodd reportedly raised at least $1.9-million from investors for his annuity program over a 2-year period, with the intent to use the money for his own personal and business expenses. He would reportedly only repay investors by soliciting money from new investors. He was ordered to halt the scheme and was fined $300,000 earlier this year by the state commerce department. Rodd still faces possible felony charges in Redwood County Court as well for writing bad checks.