Man held in scam that cost 20 people $1 million – Some prominent entrepreneurs among victims

Boise police arrested a Meridian man suspected in a Ponzi scheme that cost victims, some of them prominent local entrepreneurs, $1 million.

Cory Haun, 39, is suspected of scamming at least 20 people in the Treasure Valley over the past three years by promising a quick return on large investments in a product designed to stop washing machine leaks, said Boise Police Department spokeswoman Lynn Hightower.

Hightower said Haun paid investors their promised returns at first, but as more and more money came in — one alleged victim gave him as much as $300,000 — the scheme "grew out of control" and investors started reporting Haun to the police.

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