Man charged in Ponzi scheme held without bail

By Owen Boss

Staff Writer

SPRINGFIELD - A Holyoke man accused of perpetrating an elaborate Ponzi scheme to swindle area investors out of millions of dollars was ordered held without bail until his trial next month after a judge ruled he violated bail by contacting three of his alleged victims.

Last week, Assistant U.S. Attorney Karen L. Goodwin filed a motion against Lewis Herrup Hoff, 48, of Holy Family Road in Holyoke, stating that while free on $50,000 unsecured bond, he violated a bail agreement by continuing to make and receive payments from victims of the alleged scheme.

Prosecutors say that Hoff posed as a financial advisor and lured several members of the Hickory Ridge Country Club in Amherst and a Connecticut golf club, as well as Holyoke acquaintances, into giving him millions of dollars for investments. Hoff, they allege, would then keep the money, using it for himself or to lure future investors.

According to Goodwin's motion, on Nov. 30 the federal government learned that two of Hoff's alleged victims had received payments from him on bank checks dated Nov. 25. The motion also alleges that a third victim was approached by Goodwin and asked for a $30,000 loan in his sister's name.

The same alleged victim reportedly received a check from Hoff for $400,000, the amount he owed her, and told her she could deposit it when the case was resolved, according to court documents.

Judge-magistrate Kenneth P. Neiman agreed to revoke Hoff's bail in U.S. District Court Monday afternoon, and he will remain in custody until his trial on Jan. 11.

Owen Boss can be reached at oboss@gazettenet.com.