Prison Time for Former Boise Boatmaker's Ponzi Scheme

Prosecutors are asking that Christopher Bohnenkamp be sentenced to more than 5 years in prison, $3.2 million in restitution and $3.7 million forfeiture judgment. Bohnenkamp pleaded guilty in April to wire and bank fraud. 

He was aware that his companies were broke, but he continued to take money from customers in 2015. Bohnenkamp owned Treasure Valley Marine and Bohnenkamp's Whitewater Customs in Boise. He would take prepaid orders from customers and never fulfill them. Then he moved to New York to start a boat tour business. 
The prosecutors said their reasoning for recommending the high sentence is to "provide just punishment, promote the defendant's respect for law and provide adequate deterrence." They called his crime egregious and a Ponzi scheme to fund his indulgent lifestyle. Bohnenkamp would take customer payment and immediately spend the money on airline tickets, hotels, gambling, clothing, and food. His customers and suppliers lost $3.2 million. 

In May 2016, Bohnenkamp testified that he was broke. Two months later, he settled a lawsuit from the Idaho Attorney General's Office that promised to pay $372, 368 back to several boat customers. The payments were suspended after Bohnenkamp provided financial records and an affidavit that proved he couldn't pay and he hasn't made any payments. However prosecutors found that his New York company has been paying him $4,000 a month in salary and $2,000 a month for vehicles, dining, and concert tickets since April 2016.

UPDATE:  On August 8, 2017, United States Judge Lynn Winmill sentenced Bohnenkamp to 5 years in prison.

Comments from Allen:
The actions of Mr. Bohnenkamp amounted to fraud.  However, this was not a Ponzi scheme.

Charles Ponzi was an immigrant who discovered that there was a difference in prices for certain postage stamps, and that if he bought them in one place for one price, he could sell them in another place for a higher price and keep the profits.  He then decided to make a business of this by getting people to invest in his stamp-buying enterprise, so lots of people could make money this way. He was soon deluged with interested investors, and decided to take the shortcut of just neglecting to buy any stamps at all, while taking people's money and paying off early investors with the money of the later investors, and spending whatever money he chose to keep in the interim. This resulted in early investors making huge profits, Charles Ponzi buying fancy clothes and living in a large mansion, and later investors discovering their life savings had entirely disappeared.

That is a Ponzi scheme.  Bohnenkamp was engaged in garden-variety fraud.

As this was a federal case, the federal sentencing guidelines gave the Court parameters, a potential maximum sentence and potential minimum sentence, to consider.  The maximum was five years.  Judge Winmill stated he was disappointed he could only sentence this defendant to five years in prison, as his actions were so outrageous.

There will be a later date set for the court to determine restitution, which is believed to be in excess of $3 million.


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Allen Browning is an attorney in Idaho Falls, Idaho who handles personal injury and criminal defense. He has over 30 years of experience and handled thousands of cases. Allen handles cases from all over Idaho. Call (208) 542-2700 to set up a free consultation if you are facing legal trouble or you have been involved in an accident.

Also, check out browninglaw.net for more information about Allen and Browning Law.

Allen Browning can help with all personal injury claims including motor vehicle accidents, truck accidents, auto accidents, serious and disabling accidents, and wrongful death claims.

Allen Browning is an Idaho Falls attorney who can also help with drunk driving (DUI), traffic violations, Felony, Misdemeanor, Domestic Violence, Drug Crimes, Theft, Juvenile Crimes, battery and assault charges, Violent Crimes, and Probation/Parole Violations. He is one of the most experienced and successful criminal defense attorneys in Idaho.


Allen is able to provide his services if the incident occurs in the following Idaho Areas: American Falls, Arco, Blackfoot, Boise, Burley, Driggs, Idaho Falls, Malad City, Pocatello, Rexburg, Rigby, Salmon, St. Anthony, Twin Falls, Bannock County, Bingham County, Bonneville County, Butte County, Cassia County, Clark County, Fremont County, Jefferson County, Lemhi County, Madison County, Oneida County, Power County, Teton County, and Twin Falls County.    
Sources for more information:
http://www.idahostatesman.com/news/business/article165794767.html
http://www.kmvt.com/content/news/Prosecutors-seek-prison-time-fines-for-Idaho-boat-builder-439039113.html

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