Germantown investment scam, federal prison for Middleton man

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Joe Nemeth; Jeremy Arrington

A Middleton man has been sentenced to two years and nine months in federal prison for his role in a multi-million dollar investment scam.

Jeremy Arrington, 44, pleaded guilty to wire fraud earlier this month. The scheme, orchestrated by Arrington and his business partner out of Germantown defrauded more than a dozen victims. 

The federal government says Arrington and Joe Nemeth were taking money from investors, promising little or no risk, and offering returns from 12-36%. Instead, they used that money to pay off debt, delinquent taxes and other financial issues.

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When they were unable to pay the returns, the government says the two tried to get extensions, additional money and new investors in what federal authorities said was a Ponzi-type scheme. In all, prosecutors say less than $500,000 in investor…

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