It's way too low, complain the people who, embittered and embarrassed, have come to acknowledge themselves as Graybill victims. There are as many as 1,000 of them -- a cleaning lady, a dentist, a nurse, a widow. They stretch from Connecticut to California and back to Florida and calculate that Graybill may have gotten more than $40 million from them.
"We have three goals in these kinds of cases," said Assistant U.S. Attorney Michael S. McGarry, a specialist in criminal frauds who is prosecuting both Graybill and Graybill's wife, [Shirley Graybill], in a related case. "Bring the fraudsters to justice. Try to recover as much money as possible for the victims. And alert the public to these frauds."
People who follow prime-bank frauds say Graybill himself may have become involved years ago as an "investor," one who quickly deduced that, other than the operator, the first one in on a Ponzi scheme gets the most money. Not long after, they suspect, Graybill was participating in other operations and running his own.