Leroy Hoback pled guilty to one count of mail fraud
On Monday, May 12, 2008, Leroy Hoback pled guilty to one count of mail fraud in connection with a fraudulent scheme first named in a cease and desist order issued by the Arkansas Securities Commissioner in 2005. Hoback and others formed Fortress Foundation, Inc. in August, 2003 in order to solicit money to invest in foreign currency trading. The money invested would be transferred to GT Funds. In addition to Fortress Foundation, GT Funds and Hoback, Bruce Mikell, Raymond Streig, William Schwerdtfeger, Gloria Streig and Ra’Nic Streig Schwerdtfeger were also named in the cease and desist order.