BOISE -- Closing arguments are underway in the the trial against the president and three employees of Meridian-based real estate company DBSI.

Prosecutors say the company was running a Ponzi scheme, defrauding investors and laundering money.

It's a case KTVB has been following for years.

The trial started in early February, and on Monday, closing arguments began in front of a packed courtroom in the federal building in Boise.

Most of those present were friends and family of defendant and CEO Doug Swenson. Those supporting him say the prosecution's allegations are unfounded.

Joyce Farris was one of the 260 investors from Idaho involved with the company's dealings. She's among nearly 10,000 investors worldwide who paid money to DBSI.

I absolutely don't feel like we were swindled, said Farris, who said she came to the courthouse Monday to stand behind Swenson.

Doug Swenson, his two sons, Jeremy Swenson and David Swenson, along with Mark Ellison all face 83 charges each in connection with the case.

Those charges include bank fraud, wire fraud, securities fraud and money laundering.

Farris says those charges are simply untrue.

But, to accuse someone of being fraudulent and trying to deceive us as investors, that is not what happened, said Farris.

The 61-page indictment outlines the government's case, focusing specifically on financial dealings in 2007 and 2008.

It says DBSI mislead investors by saying the company was worth $105 million.

Prosecutors say DBSI was actually worth far less, and the defendants painted a picture of a successful company when it was anything but.

In closing arguments, prosecutors also said DBSI was using money from new investors to pay old investors, calling it a Ponzi scheme.

However, the company's defense attorneys had a much different argument. They say Swenson was a good person who never intended to cheat anyone.

His defense maintained the financial statements were accurate, saying DBSI never lied or tried to cover up anything.

DBSI filed for bankruptcy in 2008, and the defense says there is no evidence that the company acted maliciously to defraud anyone.

Four investors, along with DBSI employees and investigators, have testified in the trial that's now lasted more than two months.

Some, like Farris, say they'll continue to stand behind the defendants.

I feel like Doug is not a dishonest person, never has been, and that's why I'm here to support them. I just know they did not do what the government says they did, said Farris.

As for Farris' investment, she says she did lose money, but blames the crash of the real estate market, not DBSI.

Closing arguments will continue Tuesday morning. The jury is expected to have the case by Wednesday.

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