Ponzi Repayment Begins For NE Harbor Summer Resident



MOUNT DESERT — Investment advisor Donald Anthony Walker “Tony” Young, a Northeast Harbor summer resident who was recently accused by the federal Securities and Exchange Commission of conducting a $23 million Ponzi scheme, is cooperating with authorities and has consented to an extension of the April 17 order that froze his assets, according to reports. Mr. Young’s attorney, Catherine M. Recker, said that he was working with authorities to return capital to investors caught up in his scheme, the Philadelphia Inquirer newspaper reported April 24. W.B. Dixon Stroud, Jr. also of Northeast Harbor, who was accused of receiving $7 million from the alleged scheme, also consented to a preliminary injunction freezing his assets.

Nicole Ouellette

Nicole Ouellette

When Nicole isn't giving advice she's completely unqualified to give, she runs an Internet marketing company in Bar Harbor, where she lives with her husband Derrick and their short dog Gidget. She loves young adult novels, cooking and talking French to anyone who'll talk back. [email protected]