Krispy Kreme franchise owner and Race Car driver charged with Ponzi scheme

FDLE: Daytona race-car driver, pal bilked investors
Losses total at least $5.4M, investigators say

Former Grand Am driver Henri Zogaib had his house searched by authorities today in connection with a Ponzi scheme. (ERIC GILBERT, MOTORSPORT.COM, SPECIAL TO THE SENTINEL)


Sentinel Staff Writers

July 23, 2009


Race-car driver Henri Zogaib told members of Daytona Beach's racing community that he hobnobbed with luminaries such as John McCain, Rudy Giuliani and Henry Kissinger.

He pledged more than $1million in donations to health-care and political causes and served on Florida Hospital Foundation's Executive Board.

Now, Florida Department of Law Enforcement agents say Zogaib, 36, and friend Paul Bellanca, 48, who manages Krispy Kreme franchises near Daytona Beach and Melbourne, ran a Ponzi scheme that bilked investors of at least $5.4 million, FDLE spokeswoman Susie Murphy said.
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FDLE: Daytona race-car driver, pal bilked investors