A Metairie couple who bilked investors out of $11 million to fund their lavish lifestyle, pled guilty in Amite. William Chaucer was sentenced to eight years in prison for his role in the scheme, while his wife, Cheryl Chaucer, was given a 10-year suspended sentence and five years of probation, on the condition she spends the first year in home confinement. William Chaucer was operating a payday loan company called Chaucer Financial Services in Hammond. He was also the principal of Chaucer Holding Company, American Credit of Hammond, American Credit of Covington and City Credit of Ponchatoula. The attorney general’s office says Chaucer used private investments from investors, including several who live in Baton Rouge, to pay for his “extravagant lifestyle.” That included paying for more than $400,000 in New Orleans Mardi Gras krewe membership fees, and tens of thousands of dollars for cosmetic surgery, dental work and jewelry for his wife. Scott Perrilloux, the district attorney who prosecuted the case, called the plea “a good resolution” but admitted the reaction from victims was mixed.
Today’s poll question: Do you think it’s fair Cheryl Chaucer was given a suspended sentence for her part in a scheme that defrauded investors of $11 million?
