Rosewood International

A former janitor whose groups persuaded Bermudians to cash in their pension plans and invest in fraudulent 'get-rich-quick' schemes has received a 30-year prison sentence in the United States.John Wayne Zidar, 60, of Gardnerville, Nevada, orchestrated a Ponzi scheme that took in approximately $74 million from about 3,200 people in the United States, Bermuda and other countries.

Ned Richard Hart, who was criminally indicted on February 23, 2000 along with Nevis based offshore provider Raymond David Finzer and Christian G. Cooper, pleaded guilty to one count each of fraud and money laundering on May 21, 2001 at

John Wayne Zidar and four others who were allegedly involved in a multi-million dollar investment fraud that was heavily promoted in Bermuda, as well as other countries, were arrested in April and are currently being held in custody after being criminally indicted at the U. S. District Court for Western Washington on March 28, 2001.

As Bermuda struggles to cope with a recent influx of investment scam operators, one of the schemes heavily promoted on the island has had its assets frozen in the United States. The United States District Court for the Western District of Washington State issued a temporary restraining order on May 10 against several parties accused by the SEC of committing a $40 million fraud. Defendants in the lawsuit are John Wayne Zidar, John Wesley Matthews, Elizabeth Anne Phillips, Oakleaf International, Rosewood International and Meliorations Management Teem.