Former Scottsdale accountant accused of fraud, theft

Posted: Updated:

SCOTTSDALE -- A former Scottsdale accountant is in police custody for his alleged involvement in a $67 million Ponzi scheme.

More than 100 victims

Former Scottsdale accountant accused of fraud, theft - A former Scottsdale accountant is in police custody for his alleged involvement in a $67 million Ponzi scheme.

Search Video:

Police arrested Danny Wise Wednesday on charges of fraud and theft.

The arrest came after detectives searched Wise's home, business and storage facility.

According to investigators, Wise spent the last eight years encourage more than 100 people in invest in his real-estate holdings.

While Wise allegedly promised those investors a return of 12 to 20 percent, police said he never paid them a dime.

The investigation is ongoing, but at this point, detectives believe there are victims scattered throughout several states.