He made an appearance in federal court at 4 p.m. on Wednesday after being indicted by a federal grand jury on 18 counts of devising a scheme to defraud investors. He faces up to 20 years on each count.
KELOLAND Investigates first reported the story of broken promises and outright lies made by company leaders about their backgrounds and the proposed fish and vegetable hydroponic farm. Our year-long investigation showed that despite the fact that Ritesman said millions had been raised for the project, construction was never started. Part 1: Fishing For Answers Part 2: Fishing For Answers
In December, a former employee was awarded a judgment against Global Aquaponics
. Greg Selberg says he was promised a salary of $106,000 a year plus commission on any investments he sold in the project.
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The leader of Global Aquaponics, Tobias Ritesman, is facing federal charges.