How they did it: Hallahan Victims Speak Out about Alleged Ponzi Scheme
By: Kim Behrens
Updated: October 25, 2012
PEORIA--People who knew Nelson and Janet Hallahan, describe them as outgoing, fun, and always the life of the party.
The Next Door Neighbor:
"Nelson especially was a very personable, very likeable guy," said Steve Kaak.
So, when they moved into this seemingly modest house on Peoria's north side nearly 20 years ago, next door neighbor Steve Kaak never expected they had a secret life brewing behind these walls.
"He was always telling me he liked the area and stuff, and he always could afford something nicer, but he thought why spend all your money on a nice house," Kaak explained.
The Former Girlfriend:
Becky Cassidy dated Nelson Hallahan for three years.
"I just try to convince people, that is not the guy I knew 30 years ago."
Turns out, the man Cassidy knew claimed to be a high class investor who sold insurance policies geared towards people's retirement.
But when he a young woman nearly 10 years his junior, Cassidy says everything changed...
"He actually broke up with me for Janet."
With his new wife in tow, Nelson allegedly continued selling investments to dozens of people, including Gail Johnston and her husband.
Hallahan Victim:
"We were rather impressed with him, and thought, he knew what he was doing," said Johnston.
But, when it came time for her $3,500 investment to be paid...Johnston and nearly 70 others never received their money.
In early 2000, she confronted him.
"He got really mad at me that day and he's like, 'What do you want me to do? And I told him, I want my money. I said until I get it, I'm going to be your worst nightmare," said Johnston.
Months later, Nelson and Janet Hallahan pled guilty to federal fraud and money laundering charges.
But the night before their sentencing, suspicious behavior took place at the Hallahan home.
"A box truck, sitting in their driveway, backed up to their garage. All the lights were out in their house. It was pretty dark, and I told my wife Debbie, I think they're leaving," said Kaak.
That's exactly what they did.
The couple fled west to Arizona, where they lived until their arrest in May.
Now, as they prepare to for their final sentencing next month, these acquaintances hope the price they pay is large enough to cover the money they allegedly stole.
"I'm hoping that he has to spend a long time. And not just him. Both of them have to spend a long time in some prison thinking about what they did," said Johnston.
This week Janet Hallahan pled guilty to fleeing town.
Nelson Hallahan will be in court next week for his plea hearing.
Sentencing is set for November 28th.
The Next Door Neighbor:
"Nelson especially was a very personable, very likeable guy," said Steve Kaak.
So, when they moved into this seemingly modest house on Peoria's north side nearly 20 years ago, next door neighbor Steve Kaak never expected they had a secret life brewing behind these walls.
"He was always telling me he liked the area and stuff, and he always could afford something nicer, but he thought why spend all your money on a nice house," Kaak explained.
The Former Girlfriend:
Becky Cassidy dated Nelson Hallahan for three years.
"I just try to convince people, that is not the guy I knew 30 years ago."
Turns out, the man Cassidy knew claimed to be a high class investor who sold insurance policies geared towards people's retirement.
But when he a young woman nearly 10 years his junior, Cassidy says everything changed...
"He actually broke up with me for Janet."
With his new wife in tow, Nelson allegedly continued selling investments to dozens of people, including Gail Johnston and her husband.
Hallahan Victim:
"We were rather impressed with him, and thought, he knew what he was doing," said Johnston.
But, when it came time for her $3,500 investment to be paid...Johnston and nearly 70 others never received their money.
In early 2000, she confronted him.
"He got really mad at me that day and he's like, 'What do you want me to do? And I told him, I want my money. I said until I get it, I'm going to be your worst nightmare," said Johnston.
Months later, Nelson and Janet Hallahan pled guilty to federal fraud and money laundering charges.
But the night before their sentencing, suspicious behavior took place at the Hallahan home.
"A box truck, sitting in their driveway, backed up to their garage. All the lights were out in their house. It was pretty dark, and I told my wife Debbie, I think they're leaving," said Kaak.
That's exactly what they did.
The couple fled west to Arizona, where they lived until their arrest in May.
Now, as they prepare to for their final sentencing next month, these acquaintances hope the price they pay is large enough to cover the money they allegedly stole.
"I'm hoping that he has to spend a long time. And not just him. Both of them have to spend a long time in some prison thinking about what they did," said Johnston.
This week Janet Hallahan pled guilty to fleeing town.
Nelson Hallahan will be in court next week for his plea hearing.
Sentencing is set for November 28th.
