Lamesa Man Already Under Investigation Now Facing New Charges

Staff Report
NewsWest 9

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.