A statement issued by U.S. Attorney James Jacks says Buckley tried to redeem supposed financial instruments Buckley described as "certificates of obligation." Some were drawn on the U.S. Treasury and made payable to foreign heads of state.
He allegedly marketed his scheme to almost 2,000 investors who purchased memberships in his groups. Between 2004 and May 2008, Buckley allegedly deposited about $2.8 million from checks and money orders sent to him by these members.
Buckley didn't return a message left Tuesday by The Associated Press.
