HILLSBORO -- Two men from Washington County have been accused of running a Ponzi scheme that bilked $190,000 from three victims. Police fear there could be more who have been conned.
Clifford Puterbaugh, 49, of Beaverton, was allegedly the mastermind, reportedly assisted by Kyle Higgins, 27, of Tualatin, according to the Washington County sheriff's office.
Higgins met Jeanne Lybecker in July 2009, police said, and introduced her to Puterbaugh who urged her to invest $100,000 with him with the promise of a big return. Lybecker thought it was a good idea since she suffers from multiple sclerosis and could use the money for medical expenses.
Lybecker never saw the money.
"With the money gone I'm struggling to figure out how I'll take care of myself," said Lybecker.
Puterbaugh faces 28 charges ranging from aggravated theft to securities fraud. Higgins faces four charges ranging from securities fraud to sale of unregistered security.
"I've been embarrassed," said Lybecker. "I've been humiliated. I didn't want friends of mine to know what happened or what I've gone through."
There may be more victims of this reported Ponzi scheme. If you have any information about the case you are urged to call the Washington County Sheriff's Office fraud squad at (503) 615-3444.
