The co-founder of the San Jose-based Heritage Bank of Commerce has been charged with fraud.  He faces up to 25 years in prison.  The man, known as Boots, faces criminal charged for a couple of actions.  The Securities and Exchange Commission has accused him of setting up a Ponzi scheme.  He is also charged with changing his clients' brokerage statements and then using them to take out loans for himself. Aside from the criminal charges, Boots faces a host of lawsuits against him from the people he allegedly defrauded.  A background check of Boots, some have argued, would have immediately thrown up red flags.  Boots had a history of questionable activity dating back to 2003 as well as complaints from employees and investors. A Ponzi scheme is a hefty criminal charge.  If you face charges of fraud, contact the San Jose criminal defense attorneys at 866-491-1667 or send us a message from our website.