Accused 'Ponzi scheme' house flipper in court

A man accused of stealing local investors' money in what his victims describe as a Ponzi scheme was bound over to district court Wednesday.

BOISE -- A man accused of stealing local investors' money in what his victims describe as a Ponzi scheme was bound over to district court Wednesday.

Nathan Ward Pyles, a Canyon County house flipper, is facing eight felony counts of passing checks with insufficient funds.

Prosecutors said today Pyles wrote a total of eight bad checks to repay his business debts, totaling about $40,000.

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But investors argue they were ripped off for far more, telling KTVB they sank millions into real-estate projects with Pyles' company, Shiloh Management Services.

7 INVESTIGATES: Dozens say they were duped in 'a carefully planned Ponzi scheme'

Pyles' bankruptcy attorney has said previously that the company owes creditors around $14 million, and that he was paying his debts to some people with money borrowed from other lenders.

Those accusations are separate from the bad checks case, which alleges that on Sept. 28, 2017, Pyles gave investors a total of eight checks - each written for hundreds or thousands of dollars - that ultimately bounced.

Pyles is not currently facing criminal charges related to the alleged Ponzi scheme, although the bankruptcy case is ongoing and the FBI is involved in the investigation.

Pyles is expected to enter a plea in the checks case at his March 19 arraignment.