Silas Mayeux Charged with Racketeering and Securities Fraud

Based on an investigation conducted by the Office of Financial Institutions and the Louisiana Attorney General’s Office, Silas Mayeux of Monroe was indicted on December 9, 2010 in connection with the sale of $1.2 million in securities to at least 180 investors.  Mayeux was charged with racketeering, felony theft, and securities fraud.  According to the indictment, Mayeux began selling shares in his company, United Roadside and Lube, in 2006.  The company was to provide a roadside assistance program and warranties for lube centers.  Mayeux allegedly used more than $300,000 of investor money on vehicles, home improvements, personal investments, and payments on a personal line of credit.  It is also alleged that Mayeux failed to disclose to investors that he had a prior criminal record.  If convicted, Mayeux faces a possible sentence of up to 50 years.