Camdenton man indicted by grand jury for fraud scheme

The former owner of a fixed base operation at the Lebanon, Mo., airport has been indicted by a federal grand jury for a $707,000 investment fraud scheme.

Paul David Ward, 61, of Camdenton, was charged with wire fraud in an indictment on Wednesday.

Ward was the owner of Lebanon Aviation Service, Inc., which provided services to the users of the Lebanon airport, including the sale of aviation fuel, through a contract with the city of Lebanon.

According to the official release, from Jan. 1, 2011, to Aug. 22, 2016, Ward schemed to defraud friends and associates who invested in his company. Ward falsely and fraudulently claimed he would use the solicited investments in Lebanon Aviation Service, but he actually used the solicited investments for personal expenses and to make Ponzi-style payments to previous investors. Ward defrauded approximately 25 investors in Camden, Laclede and Cole Counties who lost $264,720.

The indictment has a forfeiture allegation, forcing Ward to forfeit to the government any property from the proceeds of the scheme, including a $264,720 money judgment.