LAMESA - A Lamesa man, already under investigation by the Securities and Exchange Commission, is now facing money laundering charges.
46-year-old Rod Stringer is accused of running a fraudulent hedge fund, cheating investors out of millions of dollars.
Our Lubbock affiliate reports that the U.S. Attorney's Office filed money laundering charges on Monday saying Stringer ran a ponzi scheme, paying off investors with other investor's money.
So far, the money laundering charge is the only criminal charge filed against Stringer.
The investigation is ongoing.