On Thursday, the Griggs were indicted by a federal grand jury in Honolulu on 13 counts of wire and mail fraud relating to an alleged Ponzi scheme they operated from 2005 through 2009 primarily targeting Hawaii residents. According to the indictment, the Griggs operated Aloha Trading, a company purporting to be in the business of commodities trading on behalf of clients. The indictment alleges the Aloha Trading investment program was actually a Ponzi scheme in which investors’ returns were derived from their own principal investments and money from later investors.
At the time the alleged scheme was active, Rachelle Griggs lived in Las Vegas. Meanwhile, Perry Griggs was incarcerated in federal prisons in Nevada, Texas, and California. While incarcerated in Nevada, Perry Griggs was housed with a number of inmates from Hawaii. The indictment alleges the scheme was targeted at inmates and their families.
In September 2008, Perry Griggs was released from federal prison and he lived in Las Vegas with Rachelle Griggs until they both disappeared in January. The FBI is looking for the Griggs nationwide but with primary focus on Nevada, Washington and California.
Perry Griggs is 49 years old, 5 feet 10 inches tall, 180 pounds, with grey hair and blue eyes. He is known to have expensive tastes in sports cars, high-end clothing, cigars and golf.
Rachelle Griggs, also known as Rachelle Rutledge, is 42 years old, 5 feet 4 inches tall, 150 pounds with blonde hair and green eyes.
Anyone recognizing the couple or having information as to their current location is asked to call the Honolulu FBI at (808) 566-4300.
The indictment is not evidence of guilt and all defendants in a criminal case are presumed innocent unless and until proven guilty in court.