VOLUSIA COUNTY, Fla. — New victims and new charges have put race car driver Henri Zogaib back behind bars. He's accused of using a Ponzi scheme to steal millions from every level of NASCAR, including drivers and even historic NASCAR families like the Frances.
Investigators made some changes in case Zogaib tries to bond out again. His bond is now $2.2 million. If he can come up with the money, this time he will have to prove it's legitimate and that it didn't come from assets related to the alleged Ponzi scheme.
As a driver in NASCAR's Grand Am series, Zogaib had access to people with huge amounts of money and investigators say he used his position to convince them to invest in an iron ore company that didn't exist.
Zogaib was first arrested in February and posted a $100,000 bond. FDLE agents say eight additional victims came forward.
Thursday, Zogaib was tracked down at a Lake Mary hotel and charged with 23 new counts of grand theft and his bond was increased.
"It's a big relief," victim Peter Baron told WFTV by phone from Ft. Lauderdale. "That sounds like maybe he is going to be in jail for a while now."
Baron owned the racing company Zogaib drove for and says he lost $400,000 in the Ponzi scheme.
"It was just completely tragic. He fed off of people that had weaknesses," Baron said.
Zogaib allegedly lured potential investors by telling them he could get them a big return on iron ore futures.
"He led you to believe you were good friends and he loved ya and he was going to do everything he could to take care of you," Baron explained.
From the front office to the track, FDLE says there are victims throughout NASCAR. Zogaib is now accused of stealing $9 million from dozens of victims and using the money to live lavishly.
"Be nice to see some money come back, but realistically that is not going to happen and just for this guy to live his life out in jail would be fantastic," Baron said.
Zogaib will make his first court appearance on the new charges Friday. If convicted, he faces up to 30 years in prison.
FDLE agents believe there are more victims and they're encouraging them to come forward.
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