Clarksville, Ark. — Federal investigators revealed today that a Clarksville woman and her stepson had bought the entire city using money they made through ZeekRewards, an online Ponzi scheme that generated more than $850 million.
Dawn Wright-Olivares and Daniel Olivares reportedly used their ill-gotten gains to purchase Clarksville, its 9,288 residents and two British tourists who were passing through when the $937,300 sale was finalized.
Olivares told reporters that aside from contributing to Mark Darr’s 2010 campaign, buying the city was the worst spending decision that he and his stepmother made.
“Looking back, I feel pretty bad about what we did,” he said. “We let our family down by getting Clarksville on a whim without even making an offer on Russellville, which is a much nicer place. The huge adult store was even a dramatic letdown.”
Officials with the Arkansas Municipal Sales Department are trying to decide whether Clarksville should be seized by the Arkansas government or simply given to a neighboring state–likely a toss-up between Texas and Oklahoma.