Investors duped by Dennis Bolze's Ponzi scheme want his political donations returned

Investors duped by Dennis Bolze's Ponzi scheme want his political donations returned

By ERICA ESTEP
6 News Anchor/Reporter

GATLINBURG (WATE) -- Some of the investors who lost millions in a Ponzi scheme run by a Gatlinburg businessman are asking politicians to return campaign contributions he made.

An oversees investor who lost tens of thousands in Dennis Bolze's multi-million dollar scheme told 6 News the money he gave to Tennessee politicians belonged to her and other investors.

Virginia Borham, who lives in Portugal, says she and others who were duped by Bolze want their money back. Borham says she lost $50,000 to Bolze.

6 News found Bolze donated money to several state and local politicians.

He was one of the largest contributors to Sevier County Mayor Larry Waters' 2006 campaign, donating $6,300.

In 2007 Bolze donated $1,275 to former Congressman David Davis, $2,300 to former U.S.  Senator Fred Thompson, and $2,100 to current U.S. Senator Bob Corker's campaign.

Corker is a member of the Senate Banking Committee and a part of the subcommittee that overseas the Securities and Exchange Commission.

Bolze is awaiting sentencing on wire fraud and money laundering charges. He's been forced into bankruptcy to pay back some of his debt.

The bankruptcy trustee has said he's trying to track down where Bolze spent investors' money and will attempt to get some of it back.

6 News attempted to contact all the politicians Bolze contributed money to, but was unsuccessful because of the long holiday.

A spokesperson for Sen. Corker did call back. Chief of Staff Todd Womack said, "That money was likely used for the 2006 campaign debt. It's money that has already been spent, so there is no money to return."

Previous:  

• Gatlinburg man accused of Ponzi scheme pleads guilty
• Bolze pleads not guilty to wire fraud, money laundering
• Accused swindler Bolze indicted for wire fraud, money laundering
• UT Athletic Dept. to return $186,000 in Bolze contributions
• Stock trader Bolze tells judge he's broke, gets public defender
• What's left of Bolze's estate auctioned off
• Alleged Ponzi scheme investors may have to pay back to settle Bolze debts
• Portuguese investor lost life savings in alleged Gatlinburg Ponzi scheme
• How whistleblower lead authorities to Bolze
• Property of indicted Gatlinburg stock trader Bolze goes up for auction
• Bankrupt Gatlinburg futures trader Bolze arrested in Pa.
• Bankruptcy trustee appointed for missing trader's estate
• Fed. judge declares missing Gatlinburg trader bankrupt