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Former Mormon Bishop Indicted For Alleged Ponzi Scheme

Julius C. Blackwelder, former Bishop of the Bridgeport Ward of the Church of Jesus Christ of Latter-day Saints, has reportedly been indicted by federal authorities for allegedly running a Ponzi scheme.

A former Mormon bishop serving the Bridgeport area has reportedly been indicted on fraud charges.

The Bridgeport Ward shares the same church building in Trumbull as the Trumbull Ward. The Trumbull Ward is separate and unrelated to the matter. 

According to an Associated Press report, Julius C. Blackwelder, 59, of Utah, former Bishop of the , has been indicted by federal authorities for allegedly running a Ponzi scheme the bilked investors, including members of the church, out of more than $400,000.

Blackwelder reportedly faces nine counts of money laundering and mail and wire fraud in connection with the case, according to the report. He is scheduled to surrender to authorities on Thursday, whereupon he will be arraigned.

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