"When a Grand Island insurance agency declared bankruptcy in January 2009, Gary Shovlain feared he would lose his $3.7 million investment in First Americans Insurance Service.

Now, two years later, he's sure he will never see his investment returned.

But he's also sure those running the insurance agency did everything they could to protect his investment and did not lose it in one of the nation's largest Ponzi schemes, as federal prosecutors now allege.

He's so certain of their innocence he's hired two of the people who ran First Americans to help him build a new insurance company that also will seek Native clients.

"This is America. They're innocent until proven guilty," he said. "There's no Ponzi scheme.""

Get the Story:
Kevin Abourezk: Former creditor in firm's bankruptcy seeks to build it anew (The Lincoln Journal Star 7/31)