August 18th, 2025 Local News
Perryville, Mo. (KFMO) - Two Missouri men have admitted to running a nearly 20-year Ponzi scheme that defrauded more than 90 victims of at least $3 million.
James “Jim” Johnson, 77, of Perry County, and Darrell Niswonger, 68, of Perryville, each pleaded guilty Friday in U.S. District Court in Cape Girardeau to wire fraud, securities fraud, and investment adviser fraud. Niswonger also pleaded guilty to four additional counts of wire fraud.
According to court documents, Johnson and Niswonger operated Johnson & Niswonger Financial Resources LLC out of a storefront in Perryville since 2002. By 2006, the pair began experiencing cash flow problems and persuaded clients to invest in so-called “risk-free municipal bonds.” In reality, they were using clients’ money to cover personal expenses, pay themselves salaries, and make partial payments to investors to maintain the illusion of success.
The lavish spending included country club memberships, golf tournaments, home improvements, educational expenses for a relative, and even Niswonger’s own family members were among those swindled. Many victims lost life savings, inheritances, and even proceeds from selling farms and homes.
When the business shut down in April 2025, Johnson & Niswonger owed investors more than $3 million but had just $22,000 left in their account.
“This fraud has affected a large number of Perryville-area residents, many of whom knew or were even related to Johnson and Niswonger,” said U.S. Attorney Thomas C. Albus. “It has been not only a betrayal of trust but a major financial loss for them.”
The men have agreed to forfeit Johnson’s home, a 2019 Audi A5 Premium, and more than $70,000 in bank and brokerage accounts. They face sentencing on November 13.
Wire fraud and securities fraud each carry penalties of up to 20 years in prison and fines up to $5 million.
